Bitcoin is holding at $36600 and Ethereum is testing $2000
The price of Bitcoin stopped at the $37800 level on Monday. The price of Ethereum dropped to the $1930 level this morning.Bitcoin chart analysis
The price of Bitcoin stopped at the $37800 level on Monday. There was a standoff in that zone, and Bitcoin began to retreat. As always, the fall is very fast and steep, and the price of Bitcoin is falling to the $35651 level this morning. We also managed to get support in that zone and return above the $36,000 level. Below, we see bullish consolidation and price growth up to $36575.
We are currently consolidating around the $36,500 level, hoping to start a further recovery with a new impulse. Potential higher targets are $36600 and $36800 levels. There is additional price resistance in the EMA50 moving average in the zone around the $36,600 level. We need a negative consolidation and pullback below the $36200 level for a bearish option. After that, we would be inclined again to the bearish side and to the $36000 level of support. Potential lower targets are $35800 and $35600 levels.
Ethereum chart analysis
The price of Ethereum dropped to the $1930 level this morning. Yesterday, we were in a bearish consolidation all day. We failed to hold above the $2000 and EMA50 moving average. This was followed by a bearish impulse and a drop to this morning’s low. We quickly consolidated and initiated a price recovery, which is now back above the $2000 level and the EMA50 moving average.
We have the support of the moving average, and now we hope to see further recovery and a return to the zone of the previous high. Potential higher targets are $2020 and $2030 levels. We need a negative consolidation and a price pullback below the $1990 level for a bearish option. This would negatively affect the price and increase the bearish pressure. Potential lower targets are $1980 and $1970 levels.
The post Bitcoin is holding at $36600 and Ethereum is testing $2000 appeared first on FinanceBrokerage.
