Bitcoin and Ethereum: Bitcoin is hovering around $25700

Bitcoin chart analysis

Today, Bitcoin remains below the $26,000 level. We are currently hovering around the $25750 level, pulling back from the $25850 previous low. We have support at the $25700 level, and we need to hold above it in order to try to move up to the $26000 level. In the zone around $26000, we have additional resistance in the EMA50 moving average.

With a breakout above, we will see a continuation of the bullish option. Potential higher targets are $26200 and $26400 levels. We need a negative consolidation and pullback to the $25600 level for a bearish option. A break below this level could increase pressure on the price and send it even lower. Potential lower targets are $25400 and $25200 levels.

Ethereum chart analysis

Today’s high price of Ethereum is the $1640 level. We encounter resistance at that level, and we need a breakthrough above it in order to move forward in the recovery. We have additional resistance in the EMA50 moving average. If we manage to move above, it would be a great sign for a bullish recovery. Potential higher targets are $1660 and $1670 levels.

We need a negative consolidation consolidation and a pullback below the $1620 level for a bearish option. After that, we entered an uncomfortable zone where we could see a breakout below and a visit to lower levels. Potential lower targets are $1610 and $1600 levels.

The post Bitcoin and Ethereum: Bitcoin is hovering around $25700 appeared first on FinanceBrokerage.