Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

Bitcoin and Ethereum: Ethereum after a long time above $3000

Bitcoin and Ethereum: Ethereum after a long time above $3000

After a longer consolidation, the Bitcoin price managed to reach the $53,000 level.
We finally saw Ethereum above the $3000 level.

Bitcoin chart analysis

After a longer consolidation, the Bitcoin price managed to reach the $53,000 level. Yesterday, a new high was formed at the $53015 level. The previous time the prices were there in December 2021. We stayed above for a short time, and a pullback to the $50756 level followed. We touch the EMA200 moving average line at that level and get its support. Then prices started a bullish consolidation, taking us up to the $52500 level this morning.

There, we form a lower high because Bitcoin does not have the strength to go above but makes a new retreat below the $52000 level. Today’s low price is at the $51500 level, and we are holding above that level for now. Staying in this zone for too long could lead to a drop below and the formation of a new daily low. Potential lower targets are $51250 and $51000 levels.

Ethereum chart analysis

We finally saw Ethereum above the $3000 level. Yesterday, the price first timidly tested $3000, so this morning, we saw a break above and the formation of a new high at the $3032 level. The price got tired after a long bullish consolidation, so a pullback to the $2925 level followed. We have moved away from the previous high quite a bit, and now there is increasing bearish pressure to make a deeper pullback.

Potential lower targets are $2900 and $2875 levels. We are currently at the $2940 level, and if we manage to hold above today’s low, we will have the opportunity to initiate a new bullish consolidation. By moving up to $2975, the price of Ethereum would start the bullish momentum, and we would again have the opportunity to test the $3000 level. Potential higher targets are $3025 and $3050 levels.

The post Bitcoin and Ethereum: Ethereum after a long time above $3000 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Stock

    A second delivery driver has died in Texas amid record-high temperatures, just as the regulation of workplace heat safety enters a new legal limbo...

    Investing

    Political advisers to both President Biden and Vice President Harris were reportedly annoyed with Democrat California Gov. Gavin Newsom over a planned debate with...

    Editor's Pick

    By the IoT Analytics team. A new report from IoT Analytics highlights eight notable trends helping to advance and promote digital twins. Four of...

    Investing

    Vermont Sen. Bernie Sanders, 81, defended President Biden, 80, against voter critiques that he lacks the energy and vigor to continue leading the United...

    Disclaimer: thefreedomright.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2020-2024 The Freedom Right. All Rights Reserved