Bitcoin and Ethereum: Bitcoin finds support at $42500

<div><img width="1200" height="719" src="https://www.financebrokerage.com/wp-content/uploads/2022/07/Bitcoin-price-2.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin finds support at $42500</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin has remained stable above the $42500 level since the beginning of the day.</li>
<li aria-level="1">The price of Ethereum is slowly recovering after falling yesterday to the $2467 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin has remained stable above the $42500 level since the beginning of the day. With the current consolidation, we can expect to see bitcoin at $43000. If we manage to move above that level, the price would take the first step towards further recovery. After that, we can expect a continuation of the bullish momentum, and the potential higher targets are $43250 and $43500 levels.</p>
<p>Additional resistance in the zone around $43750 is in the EMA50 moving average, and there, we could expect a bigger obstacle to further recovery. We need a negative consolidation and pullback below the $42500 level for a bearish option. Thus, bitcoin would form a new daily low and confirm the <a href="https://www.financebrokerage.com/gold-and-silver-more-bearish-lets-see/">bearish</a> pressure. Potential lower targets are $42250 and $42000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-253474 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/3aYqHlih-1024×598.jpg" alt="Bitcoin chart analysis" width="1024" height="598" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum is slowly recovering after falling yesterday to the $2467 level. Yesterday’s recovery was up to the $2552 level, and that’s where we encountered resistance. After that, the price pulls back to support at the $2500 level. We managed to consolidate there and start a bullish consolidation that turned us towards the $2550 level. We are currently at the $2540 level, and we can expect to see a jump and the formation of this week’s new high. Potential higher targets are $2570 and $2580 levels.</p>
<p>A pullback to the $2500 level is required for a bearish option. A break below would increase the pressure on the price to continue down. In the zone, around $2480, we have the EMA50, which could support us or slow down the retreat. Potential low targets are $2460 and $2440 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-253475 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/uAAqHSds-1024×598.jpg" alt="Ethereum chart analysis" width="1024" height="598" /></p>
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