Bitcoin jumped to $3880 and Ethereum is back to $2100
- Yesterday, the bitcoin price was consolidating in the $37,600-$38,200 range.
- In the previous hour, the price of Ethereum was once again above the $2100 level.
Bitcoin chart analysis
Yesterday, the bitcoin price was consolidating in the $37,600-$38,200 range. Early this morning, bitcoin started a bullish consolidation and climbed to $38839. At that level, we formed a new price high for the previous year and a half. We encounter resistance for sa and see a pullback to the $38600 level. We expect the price to return to the $38400 level, where it could gain new support and momentum to initiate a new bullish consolidation.
Potential higher targets are $39000 and $39200 levels. We need a negative consolidation and a price drop below the $38,200 level for a bearish option. Thus, we would fall below yesterday’s high, increasing the price pressure. Potential lower targets are $3800 and $37800 levels. Additional support in the zone around $37800 is the EMA50 moving average.
Ethereum chart analysis
In the previous hour, the price of Ethereum was once again above the $2100 level. In this way, we formed this week’s high and broke through the previous resistance at the $2080 level. In order to continue further to the bullish side, we need to maintain above $2080 because there we would form a bottom from which we would start the continuation to the bullish side. Potential higher targets are $2120 and $2130 levels.
We need a negative consolidation and a pullback of the price to the $2060 level for a bearish option. Thus, we would initiate a decline below the previous low and thus strengthen the bearish momentum. Potential lower targets are $2050 and $2040 levels. We will have additional support in the zone around $2050 in the EMA50 moving average.
