- Bitcoin price is still in a sideways consolidation mode today.
- Yesterday, we saw the price of Ethereum rise to the $2,613 level.
Bitcoin chart analysis
Bitcoin price is still in a sideways consolidation mode today. Yesterday we were able to climb to the $43,610 level and form this week's high. After that, we see the price falling to the $42,540 level. This is today's low, and for now, we will stay above it. In the previous two hours, Bitcoin price rebounded to 42780 levels.
We need to jump above the $43,800 level to cross the potential consolidation zone. Possible higher targets are the $43,000 and $43,200 levels. The EMA200 moving average is in the area around $43,600 levels. We need to break the support level at $42,500 to the downside. A pullback below would increase pressure on the price to search for new lower support. Possible lower targets are $42,250 and $42,000 levels.
Ethereum chart analysis
Yesterday, we saw the price of Ethereum rise to the $2,613 level. ETH managed to move back above the $2,600 level thus forming the highest level for this week. We stopped there yesterday and began the pullback that continues today. In the previous hour, the price formed a daily low at $2,537. We were able to get support and recover a little bit to the $2550 level. Ethereum remains under pressure to continue its decline below today's low. Possible lower targets are the $2,530 and $2,520 levels.
We need to get back above the $2560 level to get a bullish option. After that, we should form a bottom there and the next consolidation. After that, we can expect the uptrend to continue and rebound to higher levels. Possible higher targets are $2570 and $2580 levels.
