Bitcoin and Ethereum: The Price Climbed to the $19,690
- During the weekend, the price climbed to the $19,690 level.
- Yesterday, the price of Ethereum formed a new 15-day high at the $1370 level.
Bitcoin chart analysis
During the weekend, the price climbed to the $19,690 level. As this week began, the price went into a pullback, forming this morning’s low at the $19300 level. After that, we see a minor recovery to the $19400 level. For a bullish option, we need a positive consolidation that would take us back up to the $19700 resistance level. If we managed to hold on there, we would have a chance to continue the recovery.
A potential higher target is the $20,000 level. For a bearish option, we need a negative consolidation and a drop in the price of Bitcoin to the $19000 support level. Increased pressure at that level could further lower the price of Bitcoin. Potential higher targets are $18,800 and $18,500 levels.
Ethereum chart analysis
Yesterday, the price of Ethereum formed a new 15-day high at the $1370 level. Then the price began to retreat and stopped at the $1330 level. The price finds support there and makes a minor recovery to the $1350 level. We need a positive consolidation and a return to the $1370 level for a bullish option.
Then we need to hang in there and try to continue the recovery. Potential lower targets are $1380 and $1400 levels. For a bearish option, we need a negative consolidation and pullback below the $1330 level. After that, the ETH price could retest the $1300 level. The inability to stay there would lead to a further drop in the price. Potential lower targets are $1280 and $1260 levels.
