Bitcoin and Ethereum: Ethereum is holding at $1820 level
The price of Bitcoin continues to hover around the $29,000 support level today.
The price of Ethereum is still in the support zone at the $1820 level.
Bitcoin chart analysis
The price of Bitcoin continues to hover around the $29,000 support level today. Yesterday, the price fell to the $28,900 level but quickly returned to the $29,000 level. We had a short bounce to $29250, where we encountered new resistance and initiated the previous bearish consolidation. We could again see a breakout below and a visit to the previous support zone. Potential lower targets are $28800 and $28700 levels.
We need a new positive consolidation and a return above the $29250 level for a bullish option. Then, we need to hold above that in order to start a further recovery of Bitcoin with a new impulse. Potential higher targets are $29300 and $29400 levels. In the zone around the $29300 level, the price encounters the EMA50 moving average, which could slow down the growth of Bitcoin.
Ethereum chart analysis
The price of Ethereum is still in the support zone at the $1820 level. It is possible that if this kind of consolidation continues, we will see a breakout below and the formation of a new lower low. Potential lower targets are $1810 and $1800 levels.
We need a positive consolidation and price movement to $1840 for a bullish option, the previous resistance level. Then we need to make a breakout above and hold up there. With the new momentum, we could start a further recovery in the price of Ethereum. Potential higher targets are $1850 and $1860 levels. We will have additional resistance to the bullish trend in the EMA50 moving average in the zone around the $1860 level.
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