Bitcoin and Ethereum: Ethereum is approaching the $1900
- Bitcoin price is once again making a positive consolidation.
- Ethereum price is back above the $1880 level.
Bitcoin chart analysis
Bitcoin price is once again making a positive consolidation. We are now consolidating around the $30750 level and expect to see a continuation above the $30800 level. The price could easily reach the $31,000 level, depending on the momentum. Potential higher targets are $31100 and $31200 levels.
For a bearish option, we need a negative consolidation and withdrawal of Bitcoin to the $30400 level. At that level, we have additional support in the EMA50 moving average. A break below would mean price weakness, and a continuation to the bearish side is inevitable. Potential lower targets are $30200 and $30000 levels. The two-week picture tells us we are still in a broader lateral consolidation.
Ethereum chart analysis
Ethereum price is back above the $1880 level. This morning we saw a break above the EMA50 moving average and a bullish impulse after that. We are currently hovering around the $1890 level and hope to see a jump to the $1900 level. A price breakout above and staying above $1900 would be of great importance to us for further continuation. Potential higher targets are the $1910 and $1920 levels.
We need a new negative consolidation and price pullback below the $1880 level for a bearish option. The price would fall below the EMA50, which could have a negative impact on the movement of Ethereum. Potential lower targets are the $1870 and $1860 levels. This week the price fell to the level of $1845, and last year it reached the level of $1828.
