Bitcoin and Ethereum: Bitcoin falls to the $26600 level
- This morning we saw a new pullback in the price of Bitcoin to the $26600 level.
- Yesterday’s attempt to recover the price of Ethereum was stopped at the $1890 level.
Bitcoin chart analysis
This morning we saw a new pullback in the price of Bitcoin to the $26600 level. We encountered resistance at the $27200 level in the previous bullish attempt. We had additional pressure in that place in the EMA50 moving average, which affected the previous bearish impulse.
The current price is $26800 level, and for now, we are staying at that level. We need a negative consolidation and a new drop below the $26600 support level for a bearish option. After that, Bitcoin should continue to slide to last week’s support zone. Potential lower targets are $26400 and $26200 levels. We need a positive consolidation and a return above the EMA50 moving average and the $27200 level for a bullish option.
Ethereum chart analysis
Yesterday’s attempt to recover the price of Ethereum was stopped at the $1890 level. After that, we see a pullback to the $1875 support level, then a break below, and a drop to the $1840 level. The price has currently stabilized around the $1855 level, and we are now following the movement of this consolidation.
We need a positive consolidation and a move above the $1860 level for a bullish option. We would again be back above the EMA50 moving average, which would be interpreted as positive for a possible further recovery. Potential higher targets are the $1880 and $1900 levels. If the negative consolidation continues, the price will continue to slide to lower support levels. Potential lower targets are $1840 and $1820 levels.
