Bitcoin and Ethereum: Are We Expect Any Major Movements?
- During the weekend, the bitcoin price did not make any major movements, mostly hovering around the $19,000 level.
- Ethereum’s price is stable for the fourth day in a row. The price range is $1260-1350.
Bitcoin chart analysis
During the weekend, the bitcoin price did not make any major movements, mostly hovering around the $19,000 level. Today’s high was at the $19300 level, but we quickly bounced back to the $19000 level. Now we need another positive consolidation to try to move up again. The first target is the $19500 level. Then we need to stay there because we received additional support in all moving averages, which would be great psychological help. The next target is the $20,000 level, and we haven’t been able to get above it for a week. A price break above would be considered a small victory and a potential sign of continued recovery. Potential higher targets are $20500 and $21000 levels. We need a negative consolidation and a drop to the $18500 level for a bearish option. If the price were to stay there for longer, we could expect a further retreat to the lower support levels. Potential lower targets are the previous low at $18,200 and $18,000.
Ethereum chart analysis
Ethereum’s price is stable for the fourth day in a row. The price range is $1260-1350. For now, we manage to stay in the zone around the $1300 level. For a bullish option, we need a rebound to $1350 to get above the MA200 moving average. After that, with the continuation of positive consolidation, the price could rise to the $1400 level the last time we were there five days ago. Potential higher targets are $1450 and $1500 levels. We need a negative consolidation and a drop below the $1300 support level for a bearish option. The next level of support is in the zone, around $1260. A drop below would push us to support at the $1200 level. And potential lower targets are $1150 and $1100 levels.
