Connect with us

Hi, what are you looking for?

Economy

Bitcoin and Ethereum: Bitcoin increasingly safe above

Bitcoin and Ethereum: Bitcoin increasingly safe above $65000

Last night, Bitcoin’s price climbed to a new weekly high at the $65851 level The price of Ethereum is increasingly stable above the $2650 level

Bitcoin chart analysis

Last night, Bitcoin’s price climbed to a new weekly high at the $65851 level. Soon after, we saw a pullback to support at the $64800 level. The price formed a new bottom and started a bullish consolidation, returning again above the $65000 level. We are now at $65450, and everything indicates that we will continue on the bullish side. Potential higher targets are the $65750 and $66000 levels.

For a bearish option, we need a negative consolidation and pullback below the daily open level of $65175. Below that, Bitcoin is moving into negative territory, and there is increasing pressure on the price to look for a new low. We need a break below $65000 to strengthen the bearish momentum to continue to the bearish side. Potential lower targets are the $64750 and $64500 levels. Additional price support in the $64500 zone is the EMA 50 moving average.

Ethereum chart analysis

The price of Ethereum is increasingly stable above the $2650 level. The EMA 50 moving average supports us, and we hope that it will help us continue to grow to new niche levels. With a jump above $2680, we would have good momentum to attack the weekly high at $2700. This time, we are looking for a break and the formation of a new weekly high.

Potential higher targets are the $2720 and $2740 levels. For a bearish option, we need Ethereum to pull back below the $2620 level. With that step, we move below the daily open level and the EMA 50 moving average. We will also see the formation of a new daily low, confirming the growth of bearish momentum. Potential lower targets are the $2600 and $2580 levels.

The post Bitcoin and Ethereum: Bitcoin increasingly safe above appeared first on FinanceBrokerage.

You May Also Like

Investing

The platinum sector is projected to experience a significant industry deficit in 2024, marking the second consecutive year where demand for the precious metal...

Investing

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce the execution of an Offtake Letter of Intent between...

Latest News

Speaker Mike Johnson, R-La., was forced to delay a House-wide vote on his plan to avert a partial government shutdown on Wednesday after a...

Investing

Gold prices have soared since the start of 2024 and have set record prices in major global currencies. On August 1, the price for...

Disclaimer: Earlyagenda.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Earlyagenda.com