Bitcoin and Ethereum: Bitcoin struggles at $27,000
- During the previous weekend, the price of Bitcoin moved sideways in the range of $26400 – $27400.
- Ethereum price continues to test the $1820 resistance level.
Bitcoin chart analysis
During the previous weekend, the price of Bitcoin moved sideways in the range of $26400 – $27400. The current price is $26,800, and we need a positive consolidation to move above the $27,000 level. We have additional resistance at that level in the EMA50 moving average. If we climb above, then we will have a good position from which we could start further recovery.
Potential higher targets are $27200 and $27400 levels. We need a negative consolidation and a price drop to the $26400 support level for a bearish option. A break below this level could further lower the price of Bitcoin. And potential lower targets are $26200 and $26000 levels.
Ethereum chart analysis
Ethereum price continues to test the $1820 resistance level. Additional price pressure at that level is in the EMA50 moving average. We need a break above at least the $1840 level so that we have room to consolidate above the $1820 level. After that, we could see further price recovery.
Potential higher targets are the $1850 and $1860 levels. Otherwise, the price will start a new retreat, which would bring us back below the $1800 level. Potential lower targets are $1780 and $1760 levels.
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