Connect with us

Hi, what are you looking for?

The Freedom RightThe Freedom Right


Ethereum fell under pressure to the $3585 level on Friday

Ethereum fell under pressure to the $3585 level on Friday

Friday brought a big pullback in Ethereum price from $3840 to $3585.

Ethereum chart analysis

Friday brought a big pullback in Ethereum price from $3840 to $3585. Shortly after the formation of a new low, the price recovers to the 36604 level. During the weekend, the movement took place in the $3660-$3720 range. This morning we see new price instability and the initiation of bearish consolidation up to the $3640 level.

Currently, the market is holding above the crucial $ 3640 level and making its way up to the $3670 level. However, we need a more significant upward push to establish a stronger bullish trend, ideally returning to the $3700 level. This would involve testing the weekly open price and the EMA50 moving average in that zone. Sustained stability above these two levels would greatly enhance the likelihood of initiating further bullish consolidation.


A bearish start to the week could push the price to a new low

Potential higher targets are $3725 and $3750 levels. The additional resistance and the $3750 zone is the EMA200 moving average that was our support last week. We need a negative consolidation and a new pullback below the $3640 level for a bearish option. This moves us to a new weekly low.

If Ethereum experiences a significant drop below the $ 3600 level, it could lead to a new lower low. The potential lower targets to be aware of are the $3625 and $3600 levels. A pullback below $3600 would open the door to a drop to $3500 at the EMA50-daily support level. At this point, the price would be in a strong bearish momentum, potentially returning to the May support zone of $2,800-$3,300.


The post Ethereum fell under pressure to the $3585 level on Friday 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


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


    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...


    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:, 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