Bitcoin and Ethereum: Ethereum is hovering around $1850

<div><img width="1200" height="675" src="https://www.financebrokerage.com/wp-content/uploads/2022/11/Bitcoin-6.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Ethereum is hovering around $1850</b></h1>
<ul>
<li aria-level="1">Bitcoin price failed to sustain above the $30000 level yesterday, and a pullback ensued.</li>
<li aria-level="1">Yesterday, we saw a new Ethereum price attempt to reach $1880, but we stopped at the $1870 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Bitcoin price failed to sustain above the $30000 level yesterday, and a pullback ensued. The fall was stopped last night at the $29360 level, where the price receives support and recovers to the $29600 level. There, we encounter new resistance and start today’s <a href="https://www.financebrokerage.com/gas-markets-remain-bearish-as-inventories-rise/">bearish</a> consolidation. Chances are high that we will visit the previous support zone again.</p>
<p>A break below would add further pressure on Bitcoin, resulting in a further pullback. Potential lower targets are $29200 and $29000 levels. We need a positive consolidation and a return above the $29600 level for a bullish option. Then we need to keep up there so that we can start further recovery. Potential higher targets are $29,800 and $30,000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-218161 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/eOgjpuwy-1024×641.jpg" alt="Bitcoin chart analysis" width="1024" height="641" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday, we saw a new Ethereum price attempt to reach $1880, but we stopped at the $1870 level. Then, we saw a pullback to the $1845 level. The price finds support at that level and recovers to the $1856. There, we encountered new resistance and dropped below the $1850 level. Now, we could retest the previous support zone. We have additional support in the EMA50 moving average.</p>
<p>We need a negative consolidation drop below the support zone for a bearish option. After that, we would likely see a continuation of the pullback and look for support at a lower level. Potential lower targets are $1840, $1835 and $1830 levels.</p>
<p>We need a positive consolidation and a jump to the $1860 level for a bullish option. Then we need a breakout above and to hold up there. With a new impulse, we would start further recovery. Potential higher targets are $1870 and $1880 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-218162 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/hhsxeLuw-1024×641.jpg" alt="Ethereum chart analysis" width="1024" height="641" /></p>
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