- The bitcoin price rose to the $28782 level yesterday.
- The Ethereum price stopped its uptrend at the $1942 level yesterday.
Bitcoin chart analysis
The bitcoin price rallied to the $28782 level yesterday. After that, the price starts to pull back towards the $28,000 level. Today we see a continuation of that consolidation and a drop below $28,000, making today’s low at the $27,723 level. All the moving averages are above the price, which could add to the bearish pressure and send the price even lower.
We need positive consolidation and a return to the $28200 level for a bullish option. That way we would get past projects in motion and get your support for a continued recovery. The higher potential targets are the $28500 and $28750 levels.
Ethereum Chart Analysis
The Ethereum price stopped its uptrend at the $1942 level yesterday. After that, the price starts to pull back and finds support at the $1890 level. Today we see fresh pressure at that level, a drop in price below, and a continued pullback below the EMA50 1 hour moving average.
The price falls to the $1855 level and remains a bit above that low for now. We could probably see more price pullbacks. The lower potential targets are the $1850 and $1840 levels. If we think about the bullish side, we need to go as high as $1900 and try to stay there. If we are successful in this, we could see further recovery and growth in the Ethereum price.
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