Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right

Economy

Ethereum fell this morning below last week’s support zone

Ethereum fell this morning below last week’s support zone

This morning, the price of Ethereum fell below last week’s support zone and thus formed a new low at the $2307 level

Ethereum chart analysis

This morning, the price of Ethereum fell below last week’s support zone and thus formed a new low at the $2307 level. We stayed below for a short time, and the price moved up to the $2360 level. We managed to stabilize in that zone and initiate a bullish impulse up to $2400. The price is in a slight surge and could return above the weekly open price.

If he succeeds in this, this morning’s recovery would be very significant for continuing the bullish momentum. After that, we expect Ethereum to continue on the bullish side and move above the previous high at $2480. With that, we climb to a new high and strengthen the bullish scenario. With growth above $2500, Ethereum would jump over the psychological level, which would increase optimism that it has the strength to extend the bullish trend.

 

Bearish pressure caused us to fall to a new weekly low this morning

Potential higher targets are $2550 and $2600 levels. The price would receive support from the EMA 200 moving average above the $2520 level. For a bearish option, we need to initiate a new bearish consolidation that is below $2350. So we turn again to the bearish side and fall under pressure to test this morning’s low.

With a retest of this morning’s low, bearish momentum could intensify, potentially forming a new lower low. In such a scenario, Ethereum could test the $2250 and $2200 levels. It’s worth noting that Ethereum’s August low price is $2112, a historical trend that could provide valuable insights into future price movements.

 

The post Ethereum fell this morning below last week’s support zone 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

    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...

    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...

    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...

    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