Bitcoin and Ethereum: Bitcoin struggles with $26,000 level

<div><img width="1200" height="801" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/shutterstock_1101060608-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin and Ethereum: A Consolidation and Price Pullback" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin struggles with $26,000 level</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin continued to rise yesterday to the $26529 level.</li>
<li aria-level="1">The price of Ethereum is pulling back below the $1600 level, looking for support at the $1580 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin continued to rise yesterday to the $26529 level. After that, we see a pullback to support at the $25800 level. We managed to get that support and make a slight positive consolidation, and now we are within reach of the $26,000 level. We have additional support in the EMA50 moving average, which could be positively reflected in the continuation of the movement. Potential higher targets are $26500 and $26600 levels.</p>
<p>We need a negative consolidation and a drop below the <a href="https://www.financebrokerage.com/solana-and-cardano-solana-retests-19-20-support-level/">support</a> at the $25800 level for a bearish option. The price would also pull back below the EMA50 moving average, which would add to the bearish pressure. Potential lower targets are $25600 and $25400 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-226301 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/09/QqGrkSFX-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum is pulling back below the $1600 level, looking for support at the $1580 level. The previous pullback has been stopped, and the price is recovering slightly to the $1590 level. For a bullish option, we need a continuation of positive consolidation and a break above the $1600 level. Then we need to hold up there in order to deal with the EMA50 moving average, which is in the zone around $1610.</p>
<p>With a breakout above, we would have a good opportunity to trigger a further recovery in Ethereum price. Potential higher targets are the $1620 and $1640 levels. We need a negative consolidation and a drop below the support at the $1580 level for a bearish option. After that, we can expect to see the price pull back to lower support levels. Potential lower targets are $1560 and $1540 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-226302 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/09/v8Z6NATw-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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