• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Economy

Ethereum price in search of a new support level

by August 26, 2024
written by August 26, 2024

Ethereum price in search of a new support level

On Saturday, the price of Ethereum climbed to a new three-week high at $2820

Ethereum chart analysis

On Saturday, the price of Ethereum climbed to a new three-week high at $2820. However, the price did not have the strength to continue on the bullish side and had to initiate a pullback from there. We soon dropped to weekend support at the $2740 level. There, we got support from the EMA 50 moving average and saw a recovery to $2792. Here, a lower high was formed compared to the day before, which is interpreted as a continuation on the bearish side.

This happened because we saw a bearish impulse on the EMA50 moving average. On Monday, Ethereum continued its retreat to a new low of $2711. We are holding above that level for now and moving up to $2735. Another step lower, we would test the EMA 200 moving average at $2690.

 

The bearish pressure since this morning has influenced the price to start retreating below the EMA 50

If Ethereum’s price breaks below this support, it will reinforce today’s bearish momentum. This would continue bearish consolidation, and we would have to visit lower levels. However, there is a potential for a bullish option. We need a price return above the EMA 50 moving average and the $2750 level. If this happens, we could see a stabilization at higher levels, bringing hope for a bullish trend.

If Ethereum succeeds in this, it will be well positioned to initiate further bullish consolidation. This could bring a new daily high and thus confirm that we are on the bullish side. Potential higher targets are $2780 and $2800 levels. Below, we hope to test the previous weekend’s high, reinforcing the potential for a bullish trend.

 

The post Ethereum price in search of a new support level appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Financial Statement Assertions: Types in Auditing
next post
The dollar index has a new opportunity to start a recovery

related articles

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Buy Bitcoin Under $100K Before The Next Bull...

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

April 21, 2025

Bitcoin Slips to $83.6K Amid Nvidia’s $5.5B Charge

April 21, 2025

Gold Price Surge Hits $3,385 Amid Trade Tensions

April 21, 2025

Bitcoin Rebounds to $83,404 Amid Renewed Investor Confidence

April 21, 2025

Memecoins, AI, and DeFi Tokens Lead Crypto Rebound

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025
Enter Your Information Below To Receive Free Trading Ideas, 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!

Latest News

  • Trump plans to meet with Zelenskyy as he looks to end Ukraine war

    February 7, 2025
  • Senior Islamic State leader killed in Iraq, Trump says his ‘miserable life was terminated’

    March 15, 2025
  • Best energy ETF for a Trump presidency: Will XLE shine amidst pro-oil policies?

    July 23, 2024
  • First on Fox: House Republican campaign arm targets vulnerable Democrats who ‘voted to shut down’ government

    March 12, 2025
  • ‘Of course I support the pardon of my son,’ Jill Biden tells reporter

    December 2, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,277)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Microsoft says goodbye to the Windows blue screen of death

    June 30, 2025
  • Musk calls Trump’s trade adviser Navarro ‘truly a moron’ and ‘dumber than a sack of bricks’ over tariff row

    April 9, 2025
  • DEFTF Stock Price and Forecast – Get All The Info

    September 17, 2024

Recent Posts

  • Exxon soars in Q2 earnings, Chevron slumps: What investors should know

    August 2, 2024
  • Return of Trump gives families of Gaza hostages new hope

    December 11, 2024
  • UK economy post-pandemic growth stronger than earlier estimated, ONS data shows

    August 7, 2024

Editor’s Pick

  • Fox News gets inside look at Gaza humanitarian situation as Israel weighs next steps

    August 5, 2025
  • John Kirby dodges grilling over plea agreement for 9/11 terrorists: ‘Didn’t hear an answer’

    August 4, 2024
  • New bill threatens to cripple ‘judicial tyranny’ from derailing Trump’s agenda at every turn

    February 25, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock