Bitcoin and Ethereum: The price of Bitcoin is close to 25000
- Bitcoin price just formed a new March high at the $24818 level.
- Yesterday’s jump in the price of Ethereum was up to the $1705 level.
Bitcoin chart analysis
Bitcoin price just formed a new March high at the $24818 level. If this kind of consolidation continues, we could soon climb to the $25,000 level. After that, we would enter the very important $25000-$25250 zone. A break above this zone could bring a continuation of growth with targets of $25,500 and $26,000.
We need a negative consolidation and a price pullback below the $24,000 level for a bearish option. With that, the price would again move to the bearish side, and we would see a deeper retreat. Potential low targets are $23500 and $23000 levels.
Ethereum chart analysis
Yesterday’s jump in the price of Ethereum was up to the $1705 level. The price pulled back a bit during the night to the $1680 level, and managed to find support there. If we stay above this support, we could expect to see a continued recovery in the price of Ethereum.
The next important level is $1725; we need a break above it for further continuation. Potential higher targets are the $1750 and $1775 levels. We need a negative consolidation and a drop below the $1660 level for a bearish option. Thus, the bearish pressure would intensify, and we would probably see further price pullback. Potential lower targets are $1650 and $1600 support levels.