Bitcoin and Ethereum: Bitcoin returns to the $25600 level
- Bitcoin price is consolidating above the $25500 level today.
- The Ethereum price pulled back to the $1622 level yesterday.
Bitcoin chart analysis
Bitcoin price is consolidating above the $25500 level today. All cryptocurrencies were volatile yesterday, and Bitcoin retreated to the $24756 level. In the afternoon, the price began recovering and jumped to $25,730.
Since then, we have been consolidating above $25500, and we could expect a continuation to the bullish side. Potential higher targets are $25800 and $26000 levels. In the zone around $25800, the price level could encounter resistance in the EMA50 moving average, and we would need a break above for further continuation.
Ethereum chart analysis
The Ethereum price pulled back to the $1622 level yesterday. After that, we see the stop of the pullback and the consolidation in the zone around the $1640 level. Then with a new impulse, we climb up to $1670, making the next consolidation. We now need a bullish impulse and a jump to $1680 in order to start the continuation of the recovery. Potential higher targets are the $1700 and $1720 levels.
In the zone around the $1720 level, we come across the EMA50 moving average, which could slow down further price growth. We need a negative consolidation and pullback to the $1640 support level for a bearish option. A price break below would lead to an increase in bearish pressure and a continuation of the price drop to lower support levels. A potential lower target is the $1600 level.
