Bitcoin and Ethereum: Ethereum slips below $1500

• The price of Bitcoin was trading between $21,500-$22,000 during the previous weekend. 
• The price of Ethereum continues to slide below the $1500 level.

Bitcoin chart analysis

The price of Bitcoin was trading between $21,500-$22,000 during the previous weekend. This morning we retested the support at the $21500 level. There is still bearish pressure that could push the price below this support. If that happens, we could look for the next support at the $21,000 level.

We need a positive consolidation and price breakout above the $22000 level for a bullish option. Then we need to hold on and, with a new impulse, start the continuation of the price recovery. Potential higher targets are the $22500 and $23000 levels.

Ethereum chart analysis

The price of Ethereum continues to slide below the $1500 level. This morning the price fell to the $1470 level, forming a new February low. We need a continuation of this negative consolidation and a drop to the $1450 level for a bearish option. For a bullish option, we need a new positive consolidation and a return above the $1500 level.

Then we need to try to hold up there and, with the next bullish impulse, continue the recovery of the price of Ethereum. Potential higher targets are the $1525 and $1550 levels. If we could climb above $1550, we would erase the losses we had over the weekend and initiate a stronger bullish impulse and a recovery in the price of Ethereum.