Bitcoin and Ethereum: Bitcoin is holding above $30200
- Over the weekend, the price of Bitcoin was in a slight retreat to the $30,000 level.
- Over the weekend, Ethereum’s price moved sideways in the $1840-$1880 range.
Bitcoin chart analysis
Over the weekend, the price of Bitcoin was in a slight retreat to the $30,000 level. This morning we managed to consolidate at that level and start a bullish recovery. The price is now at $30175, and we could expect to see a continuation of the recovery. Our target is the $30300-$30400 zone, as well as the EMA50 moving average.
If we manage to get above this zone, the potential higher targets are the $30500 and $30600 levels. We need negative consolidation and pullbacks below the $30,000 support level for a bearish option. This could negatively affect the price of Bitcoin. Potential lower targets are $29900 and $29800 levels. Last week’s bitcoin price low was at the $29722 level.
Ethereum chart analysis
Over the weekend, Ethereum’s price moved sideways in the $1840-$1880 range. We received new support at the $1850 level at the beginning of this week and are starting a bullish consolidation. The price of Ethereum is now at the $1865 level and is on its way to the $1870 level. By moving above that level, we would have the opportunity to test the previous high at the $1880 level.
Additional resistance in that zone is created by the EMA50 moving average, and we need a concrete break above it for further price recovery. Potential higher targets are the $1890 and $1900 levels. We need negative consolidation and pullback to the $1840 support level for the bearish option. A fall below would mean the formation of a new low and a continued bearish side. Potential lower targets are $1830 and $1820 levels.
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