- bitcoin price remains under pressure below the $27,000 level.
- Yesterday, ethereum price fell to a new low at the $1,520 level.
bitcoin Chart Analysis
bitcoin price remains under pressure below the $27,000 level. Yesterday we revisited this week’s support zone around the $26,500 level. After that, bitcoin began a bullish consolidation again, rising to the $26900 level. We now need further positive consolidation to continue the recovery to higher levels. The highest potential targets are the $27000 and $27100 levels.
We need a negative consolidation and a fresh pullback to support a bearish option at the $26,500 level. So, we need a drop below to form a new low and thus confirm the bearish scenario. The possible lower targets are the $26400 and $26300 levels.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2023/10/Ethereum-falls-to-new-low-of-1520.jpg" alt="bitcoin Chart Analysis” width=”1024″ height=”620″/>
ethereum Chart Analysis
Yesterday, ethereum price fell to a new low at the $1,520 level. The price manages to find support at that level and begins to recover towards the $1550 level. We need a continuation of the positive consolidation and a break above this level for a new bullish option. The highest potential targets are the $1,560 and $1,570 levels. The EMA50 moving average is in the area around the $1580 level.
We need a negative consolidation and a fresh pullback to yesterday’s support at the $1520 level for a bearish option. A price drop below would form a new six-month low, thus confirming the bearish dominance. The possible lower targets are the $1510 and $1500 levels.
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2023/10/1697303549_101_Ethereum-falls-to-new-low-of-1520.jpg" alt="ethereum Chart Analysis” width=”1024″ height=”620″/>
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