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Bitcoin and Ethereum: Ethereum breaks above the $1900 level

Bitcoin and Ethereum: Ethereum breaks above the $1900 level

Bitcoin price manages to hold above the $35000 level.
Over the weekend, the price of Ethereum climbed to the $1913 level, forming a new three-month high price there.

Bitcoin chart analysis

Bitcoin price manages to hold above the $35000 level. Over the weekend, we got support at the $34600 level, which resulted in a jump to $35400 at the start of this week. We need a continuation of the positive consolidation in order to retest that level and move above. Potential higher targets are $35600 and $35800 levels.

For a bearish option, we need a negative consolidation and a fall in the bitcoin price below the EMA50 and $34600 level. This would have the effect of increasing the pressure on Bitcoin, which would lead to the formation of a new low below the EMA50. Potential lower targets are $34400 and $34200 levels. We may even test the $34000 level.

Ethereum chart analysis

Over the weekend, the price of Ethereum climbed to the $1913 level, forming a new three-month high price there. After that, we see a stop at that level and a slight pullback to the $1870 level. We are currently holding at $1895 and expect the price to return above the $1900 level. Then we would have to maintain it up there in order to form a new bottom from which we start further growth to higher levels on the chart.

Potential higher targets are the $1920 and $1930 levels. For a bearish option, we need a negative consolidation and a price pullback below the $1880 level. After that, we would again have the opportunity to test the support at the $1870 level.

A break below would increase pressure on the price to continue its pullback to lower levels. Potential lower targets are $1860 and $1850 levels. Additional support for the price of Ethereum could be found in the EMA50 moving average in the zone around the $1840 level.

 

The post Bitcoin and Ethereum: Ethereum breaks above the $1900 level appeared first on FinanceBrokerage.

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