Bitcoin and Ethereum: Ethereum bounces back above $2400

<div><img width="1200" height="842" src="https://www.financebrokerage.com/wp-content/uploads/2023/04/Le-Bitcoin-casse-a-nouveau-les-30-000-dollars-mardi-18-avril-2023.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Le Bitcoin casse à nouveau les 30 000 dollars mardi 18 avril 2023" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Ethereum bounces back above $2400</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin made a bullish impulse last night to the $47897 level, forming a new high this year.</li>
<li aria-level="1">The price of Ethereum managed to break the $2400 level in the previous hour.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin made a bullish impulse last night to the $47897 level, forming a new high this year. We stopped there and started a pullback with the formation of a low at the $44903 level. We managed to get support in that zone and get back above the $45000 level. The price has partially recovered to $46290, and in that zone, we encounter resistance that does not allow us to move above it for now. From that level, we start a new bearish consolidation and fall to the $45200 level.</p>
<p>A new breakout below would drop us back down to test the $44,800 level and the EMA50 moving average. The inability to hold above leads to falling below and forming a new daily low. Potential lower targets are $44400 and $44000 levels. For recovery, we need to return to the zone around $46,300. A breakout above is then needed to trigger a bullish recovery. Potential higher targets are $46800 and $47200 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-252102 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/UY2Z9yjw-1024×598.jpg" alt="Bitcoin chart analysis" width="1024" height="598" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum managed to break the $2400 level in the previous hour. At the beginning of the day, we saw momentum that rose to that level but failed to break above. This was followed by a pullback to support at the $2345 level. Ethereum successfully gains support with bullish consolidation; it crosses $2400 and makes a high at $2427. Now, we expect to see a continuation to the bullish side, and the potential higher targets are $2440 and $2460 levels.</p>
<p>We need a negative consolidation and a new pullback to the $2345 support level for a <a href="https://www.financebrokerage.com/usdchf-and-usdjpy-usdchf-remains-under-bearish-pressure/">bearish</a> option. A drop below would form a new low and confirm bearish momentum to continue to the bearish side. The price would continue to slide, and the potential lower targets are $2320 and $2300. Additional support is the EMA50 moving average in the zone around $2300.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-252103 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/xlFHcYRu-1024×598.jpg" alt="Ethereum Chart Analysis" width="1024" height="598" /></p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://www.financebrokerage.com/bitcoin-and-ethereum-ethereum-bounces-back-above-2400/">Bitcoin and Ethereum: Ethereum bounces back above $2400</a> appeared first on <a rel="nofollow" href="https://www.financebrokerage.com">FinanceBrokerage</a>.</p>