Bitcoin and Ethereum: Bitcoin remains below $26,000
- Over the weekend, the price of Bitcoin once again fell below the $26,000 level.
- Over the weekend, the price of Ethereum fell to the $1717 level.
Bitcoin chart analysis
Over the weekend, the price of Bitcoin once again fell below the $26,000 level. On Saturday, the price retreated to the $25,420 level. Like the previous time, we again get support at that level and start a bullish consolidation. Last night we tried with a bullish impulse to break above the $26000 level, and we managed to reach the $26200 level.
The joy at that place was short-lived, and the price started a new pullback to the $25,600 level. Today’s consolidation is quiet and has slightly moved the price to the $25850 level. We need further positive consolidation if we want to climb above the $26000 level again.
If we were to succeed in that, we also need to stay above that before we start to continue the recovery. Potential higher targets are $26400 and $26600 levels.
Ethereum chart analysis
Over the weekend, the price of Ethereum fell to the $1717 level. After that, we see a sideways movement in the $1730-$1760 range. The pressure on the price still does not allow us to start a recovery. For something like that, we need a positive consolidation and a move up to the $1760 level.
Then we need to hold up there and make a breakthrough above. If we succeeded in that intention, we would create new support in that place, and we could start recovery. Potential higher targets are $1780 and $1800 levels. For a bearish option, we need a continuation of the negative consolidation.
This would lead to the breaking of the previous support and the formation of a new low. Potential lower targets are $1710 and $1700 levels.
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