Bitcoin and Ethereum: Bitcoin seeks support at $42,600
<div><img width="944" height="708" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/Notes_221018_161805_90d.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin seeks support at $42,600</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin remains in a sideways consolidation today.</li>
<li aria-level="1">Yesterday, we saw the Ethereum price rise to the $2613 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin remains in a sideways consolidation today. Yesterday we managed to climb up to the $43,610 level and form this week’s price high. After that, we see a price pullback to the $42540 level. That is today’s low, and for now, we are staying above it. In the previous two hours, the Bitcoin price recovered to 42780 levels.</p>
<p>We need a jump above $43800 to cross the potential consolidation zone. Potential higher targets are $43000 and $43200 levels. EMA200 moving average is in the zone around $43600 levels. We need a break below the support at the $42500 level for the bearish side. A pullback below would add pressure on the price to search for new lower <a href="https://www.financebrokerage.com/bitcoin-and-ethereum-bitcoin-finds-support-at-42500/">support</a>. Potential lower targets are $42250 and $42000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-253777 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/8hVP7unY-1024×598.jpg" alt="Bitcoin chart analysis" width="1024" height="598" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday, we saw the Ethereum price rise to the $2613 level. ETH managed to move again above the $2600 level and thus form this week’s high. We stopped there yesterday and started a retreat that continues today. In the previous hour, the price formed a daily low at the $2537 level. We managed to get support and recover slightly to the $2550 level. Ethereum remains under pressure to continue its pullback below today’s low. Potential lower targets are $2530 and $2520 levels.</p>
<p>We need to get back above the $2560 level for a bullish option. Then, we should form a bottom there and the next consolidation. After that, we can expect a bullish continuation and recovery to higher levels. Potential higher targets are $2570 and $2580 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-253778 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/1nGZel38-1024×598.jpg" alt="Ethereum chart analysis" width="1024" height="598" /></p>
<p> </p>
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