Bitcoin price tested support at the $22500 level this morning. Ethereum price dropped to the $1533 level yesterday. Bitcoin price tested support at the $22500 level this morning. The dollar index strengthened, leading to a decline in the value of all cryptocurrencies. Now we are at the $22830 level, and maybe we could meet again at the $23000 level. A move above and staying up could produce a new bullish impulse and a new continuation of the Bitcoin price recovery.
Potential higher targets are $23,500 and $24,000 levels. For a bearish option, we need a negative consolidation and a break below the $22,500 level. Potential lower support targets are $22000 and $21500 levels.
Ethereum chart analysis
Ethereum price dropped to the $1533 level yesterday. After which, we see a recovery to $1580 and a new bearish pressure that directs us toward the previous support level. A break below this level could drop us into the next lower support zone around the $1500 level. For a bullish option, we need a better positive consolidation and price movement to the $1600 level.
This would bring us close to returning to the previous bullish consolidation. If we succeed in this, the potential higher targets are $1625 and $1650.
