Bitcoin and Ethereum: Good Chance for Higher Level
- Over the weekend, the bitcoin price managed to hold above $19,000 and embark on a bullish recovery.
- Ethereum price managed to find support at $1260 on Friday and start a bullish recovery.
Bitcoin chart analysis
Over the weekend, the bitcoin price managed to hold above $19,000 and embark on a bullish recovery. The price is now at $19500 and has a good chance to continue towards the $20000 level. This would retest the previous high. To continue the bullish option, we need to hold on there and climb to the $20500 resistance level with a new bullish impulse. In the previous month, we did not manage to rise above that level. for a bearish option, we need a new negative consolidation and a drop to the $19000 support level. Increased pressure on the price of Bitcoin could push the price down further. Potential lower targets are $18,500 and $18,000 levels.
Ethereum chart analysis
Ethereum price managed to find support at $1260 on Friday and start a bullish recovery. The recovery continued today, and the price climbed to $1,320. It could soon find itself in the resistance zone at the $1340 level. If the price were to stay in that place, it would have solid chances for a further bullish trend toward the next resistance. The potential next resistance and target are at the $1380 level, and the next one is at the $1400 level. We need a new negative consolidation and pullback below the 1300 level for a bearish option. After that, we could expect the price to visit the previous support zone at the $1260 level. Potential lower targets are $1240 and $1200 levels.
