Bitcoin and Ethereum: Bitcoin recovers to the $27500 level
- Over the weekend, the price of Bitcoin hovered in the $26,800-$27,000 range.
- The price manages to return above the $1800 level.
Bitcoin chart analysis
Over the weekend, the price of Bitcoin hovered in the $26,800-$27,000 range. As the new week began, so did the price. Today’s high price is $27550 level. We currently have that resistance and are returning to the $27370 level. We can also say that the price is also testing the EMA50 moving average.
Bitcoin could now very easily slip to $27000 and try to find some support there to stop the pullback. Potential lower targets are $26800 and $26600 levels. We need a positive consolidation and a break above the $27500 level for a bullish option. After that, we would be in a better position for continued price growth. Potential higher targets are $27600 and $27800 levels.
Ethereum chart analysis
The price manages to return above the $1800 level. Today’s high so far is the $1840 level. Additional support at the current level of $1830 is provided by the EMA50 moving average. It would be good to get his support for the further continuation of the price recovery. Potential higher targets are the $1850 and $1860 levels.
We need a negative consolidation and pullback below the $1820 level for a bearish option first. After that, we could expect a new drop to support at the $1800 level. We will see a break below if we don’t get support there. Potential lower targets are $1780 and $1760 levels.