Bitcoin and Ethereum: Ethereum falls to a new low at $1520

Bitcoin price remains under pressure below the $27,000 level. Yesterday, the Ethereum price dropped to a new low at the $1520 level.

Bitcoin Chart Analysis

Bitcoin price remains under pressure below the $27,000 level. Yesterday, we again visited this week’s support zone around the $26,500 level. After that, Bitcoin started a bullish consolidation again, climbing up to the $26900 level. We now need further positive consolidation to continue the recovery to higher levels. Potential higher targets are $27000 and $27100 levels.

We need a negative consolidation and a new pullback to support a bearish option at the $26500 level. Then, we need a drop below to form a new low and thus confirm the bearish scenario. Potential lower targets are $26400 and $26300 levels.

Ethereum Chart Analysis

Yesterday, the Ethereum price dropped to a new low at the $1520 level. The price manages to get support at that level and begins to recover up to the $1550 level. We need a continuation of positive consolidation and a break above this level for a further bullish option. Potential higher targets are $1560 and $1570 levels. The EMA50 moving average is located in the zone around the $1580 level.

We need a negative consolidation and a new pullback to yesterday’s support at the $1520 level for a bearish option. A price drop below would form a new six-month lower low, thereby confirming bearish dominance. Potential lower targets are $1510 and $1500 levels.

 

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