Bitcoin is above $44,000, and Ethereum is at $2,300

Bitcoin chart analysis

Yesterday, the price of Bitcoin managed to break above the consolidation in the $41600-$42000 range and climb up to the $44490 level. That’s how we formed this year’s new high, and we hope to see a continuation above. Bitcoin price is making a pullback this morning to the $43500 level, gaining support in that zone. This affects us to see the beginning of a new bullish consolidation and we move to the $43815 level.

It would be desirable to climb above $44,000 if we want to see a more concrete recovery. Potential higher targets are $44400 and $44800 levels. We need a negative consolidation and a drop to the $43200 level for a bearish option. Thus, we would form a new low and confirm the increase in bearish momentum. Potential lower targets are $42800 and $42400 levels.

Ethereum chart analysis

Today, we are looking at continuing the bullish movement of the Ethereum price to a new high at the $2312 level. After the formation of a new high, the price starts to pull back to support at the $2260 level. For now, we have managed to see a stop to the price decline. We are currently at the $2280 level and expect to see a continuation on the bullish side. Potential higher targets are $2300 and $2320 levels.

We need a negative consolidation and a break below the $2260 support level for a bearish option. After that, we will see the formation of a new low, which confirms the increased bearish presence. Potential lower targets are $2240 and $2220 levels. The EMA50 moving average is currently around $2180.

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