Bitcoin and Ethereum: BTC is still hovering around $30000

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/03/shutterstock_1476022535.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="04 May chart overview for Bitcoin and Ethereum" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: BTC is still hovering around $30000</b></h1>
<ul>
<li aria-level="1">In the previous 12 hours, the price of Bitcoin managed to return above the $30,000 level.</li>
<li aria-level="1">This morning, we saw a recovery in the price of Ethereum from yesterday&#8217;s drop.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>In the previous 12 hours, the price of Bitcoin managed to return above the $30,000 level. Today&#8217;s high was formed at the 30200 level. For now, we are encountering resistance at that level, and the price is coming back to the $30,000 support level. If we manage to stay there, we would have the opportunity to initiate further recovery with a new <a href="https://www.financebrokerage.com/dollar-into-yen-forecast-strong-bullish-momentum-expected/">bullish</a> consolidation.</p>
<p>Additional pressure in the zone around $30200 was leveled in the EMA50 moving average. A price break above could take us up to the $30400 level. Thus, we would find ourselves above the EMA50 moving average and could get its support for a bullish continuation. Potential higher targets are $30500 and $30600 levels. As long as we are below the EMA50, the price of Bitcoin will be under bearish pressure.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-212713 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/xqSIT4NP-1024×621.jpg" alt="Bitcoin chart analysis" width="1024" height="621" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>This morning, we saw a recovery in the price of Ethereum from yesterday&#8217;s drop. Yesterday&#8217;s low price was at $1880, after which we consolidate and begin recovery to the $1920 level. We are currently encountering resistance at that level and pulling back to the $1910 level. It is important for us to stay above, in order to initiate a new bullish impulse.</p>
<p>We need a break above the $1920 level, and the price needs to hold above it. After that, we could expect to see bullish consolidation and price recovery. Potential higher targets are $1930 and $1940 levels. We need a negative consolidation and pullback to yesterday&#8217;s low at the $1880 level for a bearish option. A price drop below means the formation of a new low and a possible continuation to the bearish side. Potential lower targets are $1870 and $1860 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-212714 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/yqanJwwL-1024×621.jpg" alt="Ethereum chart analysis" width="1024" height="621" /></p>
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