Bitcoin and Ethereum: Bitcoin rises to $26500 resistance
- Today we see the recovery of the bitcoin price to the $26500 level.
- Yesterday, the price of Ethereum was in retreat until the 1820$ level.
Bitcoin chart analysis
Today we see the recovery of the bitcoin price to the $26500 level. Yesterday’s price pullback was stopped at the $26100 level, and we started the current recovery from that level. To continue on the bullish side, we need a break above the $26600 level. Then we need to stay above it to start the recovery.
The first next target is the $26800 level, and the additional resistance at that level is in the EMA50 moving average. If we could move above, we would have a better chance to see a move above $27000 and continue the bullish trend. We need a negative consolidation and pullback below the $26000 level for a bearish option. After that, we would have the opportunity to revisit the previous support zone of $25350-$25600.
Ethereum chart analysis
Yesterday, the price of Ethereum was in retreat until the 1820$ level. The price starts to recover from that moment and rises to $1840. We need a positive consolidation and a move above the $1850 level to continue the bullish option. In this way, we would test the previous high and need a break above to continue further recovery.
At the $1860 level, we have additional resistance in the EMA50 moving average. Potential higher targets are the $1870 and $1880 levels. We need a negative consolidation and a drop to the previous support level at $1820 for a bearish option. A break below would mean we could see a further pullback and a test of the $1775-1800 support zone.