Yesterday, Bitcoin recovered to the $23,720 level after falling to the $22,775 level on Friday. Over the weekend, the price of Ethereum recovered from Friday’s drop. Yesterday, Bitcoin recovered to the $23,720 level after falling to the $22,775 level on Friday. During the first part of today, Bitcoin price pulled back to the $23400 level, where it is gaining support and initiating a new positive consolidation. We now expect to see a continuation and retest of the $23750 resistance level. A price break above could take us up to the $24,000 level.
Then it is also necessary to maintain up there and, with the next bullish impulse, start the continuation of the price increase. Potential higher targets are $24250 and $24500 levels. We need a negative consolidation and a drop to the $23200 level for a bearish option. There was a previous consolidation for us. A break below would take us down to $23000, and we would likely retest Friday’s low at the $22775 level.
Ethereum analysis
Over the weekend, the price of Ethereum recovered from Friday’s drop. Today’s high was at the $1650 level. For now, the price is managing to move in a positive consolidation and could climb above $1650 by the end of the day if it continues at this pace. The potential next resistance zone is at the $1680 level; if we could break above it, we would have a chance to reach the $1700 level.
We need a negative consolidation and a drop to the $1620 level for a bearish option. With that, we would turn to the support at the $1600 level. A break below could lead to another test of the previous low at the $1580 level. The impossibility of holding on there will lead to a further drop in the price. Potential lower targets are $1575 and $1550 levels.