Connect with us

Hi, what are you looking for?

Economy

Bitcoin and Ethereum: Ethereum is hovering around $1850

Bitcoin

Bitcoin and Ethereum: Ethereum is hovering around $1850

  • Bitcoin price failed to sustain above the $30000 level yesterday, and a pullback ensued.
  • Yesterday, we saw a new Ethereum price attempt to reach $1880, but we stopped at the $1870 level.

Bitcoin chart analysis

Bitcoin price failed to sustain above the $30000 level yesterday, and a pullback ensued. The fall was stopped last night at the $29360 level, where the price receives support and recovers to the $29600 level. There, we encounter new resistance and start today’s bearish consolidation. Chances are high that we will visit the previous support zone again.

A break below would add further pressure on Bitcoin, resulting in a further pullback. Potential lower targets are $29200 and $29000 levels. We need a positive consolidation and a return above the $29600 level for a bullish option. Then we need to keep up there so that we can start further recovery. Potential higher targets are $29,800 and $30,000 levels.

Bitcoin chart analysis

Ethereum chart analysis

Yesterday, we saw a new Ethereum price attempt to reach $1880, but we stopped at the $1870 level. Then, we saw a pullback to the $1845 level. The price finds support at that level and recovers to the $1856. There, we encountered new resistance and dropped below the $1850 level. Now, we could retest the previous support zone. We have additional support in the EMA50 moving average.

We need a negative consolidation drop below the support zone for a bearish option. After that, we would likely see a continuation of the pullback and look for support at a lower level. Potential lower targets are $1840, $1835 and $1830 levels.

We need a positive consolidation and a jump to the $1860 level for a bullish option. Then we need a breakout above and to hold up there. With a new impulse, we would start further recovery. Potential higher targets are $1870 and $1880 levels.

Ethereum chart analysis

The post Bitcoin and Ethereum: Ethereum is hovering around $1850 appeared first on FinanceBrokerage.

You May Also Like

Trading Secrets

On this week’s edition of Trading Simplified, Dave continues to show his methodology in action with a new mystery chart. In his “Mind the...

Trading Secrets

Wall Street sold off dramatically on Friday after the jobs report. While the economy is stagnating, many investors are concerned that the Fed will...

Trading Secrets

In this special presentation from StockCharts TV‘s The MEM Edge, Mary Ellen highlights the unique characteristics of a new bull market, along with the...

Investing

Everyone is curious to know how the stock market will react to the debt ceiling deal announcement that happened over the weekend. Republicans and...