Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

Bitcoin and Ethereum: Bitcoin is holding above $30400

Bitcoin and Ethereum: Bitcoin is holding above $30400

The price of Bitcoin tested the $31000 level yesterday.
Yesterday we saw the testing of the $1900 level by the price of Ethereum.

Bitcoin chart analysis

The price of Bitcoin tested the $31000 level yesterday. Holding at that level was short-lived because a pullback to the $30,200 level followed. After that, Bitcoin finds support at that level and starts a new bullish consolidation and recovery up to the $30700 level. That level represents our resistance for now; the price has retreated to $30,300.

Additional price support in this zone is in the EMA50 moving average. Here we can expect to see a new consolidation and the initiation of another bullish impulse. A return to the zone around the $31,000 level would be a full hit for Bitcoin, as well as a continuation on the bullish side. Potential higher targets are $31250 and $31500 levels.

We need a negative consolidation and a price drop to the $30,000 support level for a bearish option. A break below would add to the bearish pressure, pushing the price of Bitcoin even lower. Potential lower targets are $30800 and $30600 levels.

Ethereum chart analysis

Yesterday we saw the testing of the $1900 level by the price of Ethereum. This was followed by a quick pullback to the $1880 level, where the price tried to hold. After that, we see a breakout below and a drop to $1865. We currently stopped at that level and recovered slightly to the $1870 level. With the fall below the EMA50 moving average, bearish pressure on the price of Ethereum has increased.

Potential lower targets are the $1850 and $1840 levels. We need a positive consolidation and a price jump above $1880 for a bullish option. Then we would have the opportunity to go to $1900 again because we have support in the EMA50 moving average. Potential higher targets are the $1920 and $1940 levels.

 

The post Bitcoin and Ethereum: Bitcoin is holding above $30400 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Latest News

    A week ago, a Jan. 6 defendant was arrested near Barack Obama’s in D.C. with what the government says was a machete, two guns...

    Disclaimer: Deluxeinvestmentgroup.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 deluxeinvestmentgroup.com