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

Ethereum fails to hold on to the bullish trend on Tuesday

by October 8, 2024
written by October 8, 2024

Ethereum fails to hold on to the bullish trend on Tuesday

The price of Ethereum rose above the $2500 level again on Monday

Ethereum chart analysis

The price of Ethereum rose above the $2500 level again on Monday. In two attempts, we tried to hold above, but both times, the price moved back below $2500. The second pullback was stronger, and the price dropped on Tuesday to a new weekly low at the $2403 level. We can say that we are testing the $2400 level. Ethereum finds new support there and recovers to new resistance at the $2447 level this morning.

We got additional pressure on the price in that zone in the EMA 50 moving average. Now we see another pullback to $2420. The bearish momentum is strengthening, and we expect to test this morning’s support zone at $2400. The picture looks bad for Ethereum as everything points to a further pullback to a new weekly low. Potential lower targets are $2380 and $2360 levels.

 

Monday’s pressure on the price pushes it to a new weekly low this morning

For a bullish option, Ethereum’s price would first have to return above the weekly open level of $2440. This would be the first positive move we need to get back on the bullish side. After stabilizing there, we expect to continue to $2460 and test the EMA 200 moving average. Then, it is necessary for the price to create an impulse above at least the $2480 level, which could signal a potential bullish recovery.

That could be enough room to consolidate above the EMA 200 and continue to the bullish side. Potential higher targets are $2500 and $2520 levels. Above these targets, we are going to a new weekly high, while the October one is at the $2657 level.

 

The post Ethereum fails to hold on to the bullish trend on Tuesday appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
ApeCoin and Akita Inu: Targets and Price Overview 
next post
Bitcoin loses bullish momentum on Monday and drops again

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

  • House votes to make Trump Gulf of America name change permanent

    May 8, 2025
  • Nikkei in limited recovery in first two days of this week

    September 11, 2024
  • Ripple and Tron: Tron is retreating from the weekly high

    August 22, 2024
  • Top House Republican threatens to expose CCP officials if China invades Taiwan

    February 27, 2025
  • Stellar and Bitcoin Cash: Stellar in lateral consolidation

    August 13, 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

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

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

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

    July 19, 2024
  • 5

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

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,433)
  • Investing (593)
  • Stock (735)

Latest Posts

  • One year after 10/7, Iran is losing the war. Now, Israel must secure peace

    October 7, 2024
  • No 2 Republican Steve Scalise lays out government funding strategies, with fiscal deadlines looming

    January 29, 2025
  • Trade war could push S&P 500 down further to this level

    April 9, 2025

Recent Posts

  • Kamala Harris takes veiled jabs at Trump, Elon Musk in 1st major speech since election defeat

    February 24, 2025
  • The price of Bitcoin has been under pressure since Wednesday

    July 19, 2024
  • Mark Cuban tries to ‘clarify’ after comment on ‘The View’ widely seen as insult toward pro-Trump women

    November 1, 2024

Editor’s Pick

  • Trump’s second term foreign policy likely to focus on ‘strength’ and ‘deterrence’: expert

    July 21, 2024
  • What could Donald Trump’s victory mean for Bitbot in 2024?

    July 21, 2024
  • Trump gives Johnson ‘complete and total endorsement’ ahead of speakership fight

    December 30, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms and Conditions
  • Email Whitelisting

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