- Bitcoin price fell slightly yesterday, searching for a new support level.
- Ethereum price used yesterday to consolidate better, falling to the $2,880 level.
Bitcoin chart analysis
Bitcoin price fell slightly yesterday, searching for a new support level. We have fallen to the $50,611 level, where we see a pause in the decline and consolidation in that area. After that, we return above $51,000 and test the EMA200 support there. We get his support and move on to recovery. By the end of the day, we rose to the $51,940 level. This morning we saw a slight pressure on the price and a pullback to $51,200.
There, we form a new low, and from there, we start a positive consolidation and return above the $51,900 level. We now need to break above the $52,000 level and try to hold there. We will have the opportunity to form a good foundation to start the upward consolidation to overcome higher levels. Possible higher targets are $52,200 and $52,400.
Ethereum chart analysis
Ethereum price used yesterday to consolidate better, falling to the $2,880 level. At this level, we tested the weekly opening price, stayed above it and started a bullish consolidation. We are currently back above the $3,000 level and expect to see a continuation of the uptrend. Possible higher targets are the $3020 and $3040 levels.
We need a pullback to support the $2,880 price for a bearish Ethereum price option. New pressure could lead to a drop below that and the formation of a new weekly low. Possible lower targets are the $2860 and $2840 levels. Additional support in the area around the $2840 level for the price is the EMA200 moving average.
