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Bitcoin and Ethereum: Bitcoin is still below $29400 levels

Bitcoin and Ethereum: Bitcoin is still below $29400 levels

Bitcoin price continues to consolidate sideways in the $29200-$29500 range.
Yesterday, we saw a bullish attempt by the Ethereum price to break above the $1850 level.

Bitcoin chart analysis

Bitcoin price continues to consolidate sideways in the $29200-$29500 range. Yesterday, we had one bounce to $29660 but quickly returned to the previous movement zone. The current price is $29340, and we have no hasty jumps today. We remain above the $29200 support and hope to see a break above $29500 and further bitcoin recovery. Potential higher targets are $29600 and $29700 levels.

 

We need a break below the $29200 support level for a bearish option. After that, the price would be under pressure to continue the pullback and search for new support. Potential lower targets are $29100 and $29000 levels.

Ethereum chart analysis

Yesterday, we saw a bullish attempt by the Ethereum price to break above the $1850 level. A high was formed at the $1854 level, but a pullback and a drop to the $1840 level soon followed. We are now seeing bearish pressure on the price, making a negative consolidation and pushing the price to slip below the $1840 support level. Potential lower targets are $1830 and $1820 levels.

For a bullish option, we need a new positive consolidation and a return of the price above the $1850 level. Then, we would have to hold up there and start with a new bullish impulse to continue the growth of Ethereum. Potential higher targets are $1860 and $1870 levels.

 

The post Bitcoin and Ethereum: Bitcoin is still below $29400 levels appeared first on FinanceBrokerage.

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