- Yesterday, with strong bullish consolidation, Bitcoin price jumped to the $47,281 level.
- After Ethereum price held below the 50 SMA over the weekend in yesterday's decline to $2,176, a strong bullish push to the $2,360 level followed.
Bitcoin chart analysis
Yesterday, with strong bullish consolidation, Bitcoin price jumped to the $47,281 level. A new high of the year was formed at this level. After that, we look for a slight pullback to support the $46,400 level. Currently, Bitcoin has managed to hold above this support level, which could lead to a new bullish consolidation to continue the previous trend. Possible higher targets are the $47,000 and $47,200 levels.
We need to pull back to the $46,000 level to get a bearish option. Therefore, we may form a new daily low, and the downward pressure in that area will increase. A break below that would confirm the downward momentum, and the price would continue to fall. Possible lower targets are the $45,600 and $45,200 levels.
Ethereum chart analysis
After Ethereum price held below the 50 SMA over the weekend in yesterday's decline to $2,176, a strong bullish push to the $2,360 level followed. We stopped at this level and started the decline, which continues today. In the previous hour, the price fell below the $2,300 level, and the current pressure could take it lower further.
In the area around $2280, we are facing the EMA50, and there we can expect better support and stop the price decline. Possible lower targets are the $2,260 and $2,240 levels. We need a positive consolidation and a return above the $2320 level for a bullish option. Then we need to hold there, and with a new push, start further recovery on the upside. Possible higher targets are $2340 and $2360 levels.
