Bitcoin And Ethereum: Bitcoin continues to test the $27000
- Bitcoin price is still under much pressure at the $27000 level.
- The price of Ethereum climbed to the $1890 level.
Bitcoin chart analysis
Bitcoin price is still under much pressure at the $27000 level. Additional pressure at that level creates the EMA50 moving average. This could have a negative impact on the price. With negative consolidation, we could expect to fall below the $27,000 level and visit the previous support zone around the $26,600 level.
Potential lower targets are $26400 and $26200 levels. We need a positive consolidation and a move above the $27200 level for a bullish option. Potential higher targets are $27400 and $27600 levels.
Ethereum chart analysis
The price of Ethereum climbed to the $1890 level. We are now consolidating in the $1885-$1890 range and need a break above to reach the $1900 level. Above, a larger resistance zone awaits us in the $1910-$1920 range. With a breakthrough, we would have the opportunity to continue further recovery.
We need a negative consolidation and a pullback to the $1880 level for a bearish option. After that, we would descend into the lower support zone. Potential lower targets are the $1870 and $1860 levels. At the $1860 level, we have additional support for the price in the EMA50 moving average, and we could expect to stop the fall there.
