Bitcoin up to $40659 and Ethereum up to $2145 this morning
- The Bitcoin price was calm during the weekend and moved steadily in the $43600-$44400 range.
- On Saturday, we saw the Ethereum price jump to $2403.
Bitcoin chart analysis
The Bitcoin price was calm during the weekend and moved steadily in the $43600-$44400 range. A bearish impulse followed at the start of this week, and the price fell this morning to the $40,659 level. We stayed down there briefly, and the price near the door was above $42,000. After that we see price consolidation in the $42000-$42500 range. We need a break above $42500 and the EMA50 moving average if we plan to see a continuation of the Bitcoin price recovery.
Potential higher targets are $42750 and $43000 levels. We need a negative consolidation and pullback below the $42000 level for a bearish option. If we fail to move above the EMA50 moving average, that would be a bearish sign for us. This would cause a further price pullback, looking for support at lower prices. Potential lower targets are $41500 and $41000 levels.
Ethereum chart analysis
On Saturday, we saw the Ethereum price jump to $2403. After that, the movement took place in the $2320-$2380 range. Bearish consolidation followed this morning, and the price fell to $2145. We stayed down briefly, and the price recovered to $2220. Then, the movement continued in the $2220-$2260 range. We need a break above $2260 if we plan to start a further recovery.
We could have additional resistance in the EMA50 moving average around the $2280 level. Potential higher targets are $2300 and $2320 levels. We need a negative consolidation and pullback below the $2220 level for a bearish option. The price of Ethereum would again be under pressure to move to the bearish side. Potential lower targets are the $2200 and $2180 levels.
