Bitcoin and Ethereum charts overview for April 21

• In the previous hour, Bitcoin formed its new higher high at $ 42,720.
• The price of Ethereum is also in the bullish trend this week. Today we see the formation of a new higher high at the $ 3180 level.
• The world’s largest cryptocurrency exchange has deactivated the accounts of its largest clients in Russia.

Bitcoin chart analysis

In the previous hour, Bitcoin formed its new higher high at $ 42,720. Last night, bitcoin found support at a price of 41,000 dollars, and after that, we see the current bullish impulse, which climbed above 42,420 from the previous high of April 11. Our next bullish target is $ 43,372. We can expect greater resistance here, and the reason is because last week, we had a steep drop in the price from that level to 39,230 dollars. Last week, the price moved sideways and managed to stay above $ 39,000. Earlier this week, the price dropped to $ 38,600 but quickly consolidated and climbed above the $ 40,000 level on Tuesday. After that, we have consolidation at that level, from which a new bullish impulse emerged, which raised the price above $ 42,000. As we said, today we have a continuation of the bullish impulse, and our next target is the $ 43,370 level. We need a new negative consolidation and a price withdrawal below the $ 41,500 zone for the bearish option. After that, the next support zone is at the $ 40,500 level, with the MA200 moving average. Then below the next support are our $ 40,000 level, then the $ 39,000 level.

Ethereum chart analysis

The price of Ethereum is also in the bullish trend this week. Today we see the formation of a new higher high at the $ 3180 level. Yesterday the price dropped to the $ 3040 level, where it found support on the MA200 moving average. After that, we see bullish consolidation and an impulse that broke the barrier at the $ 3150 price. If this price movement continues, our next target is the $ 3200 level, and then the next one is last week’s high at the $ 3305 level. The April high is at $ 3580. For the bearish option, we need new negative consolidation and pullback prices to the previous support zone of about $ 3,100. Additional support at that level is in the MA20 and MA50 moving averages, and the MA200 is at $ 3040. A break below would bring us down to the $ 3,000 psychological level, and with continued bearish pressure, we would visit the April low of $ 2,900.

Market overview

Binance restricts services in Russia

The world’s largest cryptocurrency exchange has deactivated the accounts of its largest clients in Russia, reducing its services in the country in accordance with European Union sanctions.

Binance told users that Russian citizens and people living in the country and companies located there that hold cryptocurrencies worth over 10,000 euros would be banned from making new deposits or trading.

Affected clients could withdraw funds if they are unable to trade or perform other crypto transactions.

Orders for users who have completed verification of addresses and hold cryptocurrencies worth less than 10,000 euros will remain active, add Binance.

In the fifth package of sanctions against Russia, the EU targeted digital wallets this month, used to store, send, receive and spend cryptocurrencies, as part of a broader effort to close potential loopholes that could allow Russians to transfer money abroad.

Binance, along with major US stock exchanges Coinbase Global Inc and the Kraken, rejected Kyiv’s calls for a total ban on Russian users after President Vladimir Putin ordered an invasion of Ukraine, which Moscow calls a “special operation” to demilitarize and “denazify” the country.

Binance said in March that he would not “unilaterally freeze millions of accounts of his users” but that he would ensure partial compliance with sanctions.