Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

Ethereum price is rebounding from last night’s decline

by August 16, 2024
August 16, 2024
Ethereum price is rebounding from last night’s decline

Ethereum price is rebounding from last night’s decline

Last night, the price of Ethereum retreated to a new weekly low at the $2516 level

Ethereum chart analysis

Last night, the price of Ethereum retreated to a new weekly low at the $2516 level. We have again descended into the support zone from the beginning of the week. Again, we managed to get back above the weekly open price and find that support. After a short consolidation, the price started a recovery and climbed above the $2580 level. The bullish momentum is still current, and a new daily high was formed at the $2625 level.

Here, we encounter the EMA 50 moving average and are holding below it for now. We see a slight pullback to $2615, and for now, there are no sudden moves that would take us away from today’s path. We expect to see Ethereum advance above the EMA 50 and rise to a new daily high.

 

The new price pullback to the weekly open price is a worrying step

In the $2650 zone, the price of Ethereum will meet the EMA 200 moving average, which was an obstacle for us in yesterday’s attempt to move above. This time we could do it, which would be great for further recovery to the bullish side. With the support of the EMA 200, the chances of reaching higher levels increase. Potential higher targets are $2680 and $2700 levels. This week’s Ethereum price high is at the $2780 level.

For a bearish option, we need a negative consolidation and a retracement to start below $2600. With that step, we move away from the previous high and initiate a further pullback. At $2570, we will test the daily open price before continuing the decline to a new low. Potential lower targets are $2540 and $2520 levels. It is also possible to see a test of the $2500 level.

 

The post Ethereum price is rebounding from last night’s decline appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
USDCHF and USDJPY: USDJPY in retreat from this morning
next post
Bitcoin price is turning to the bearish side again

You may also like

HBI Stock Price: Times Get Tough for Hanesbrands...

September 12, 2024

Stellar under pressure since Saturday drops to a...

August 27, 2024

Dollar Index Analysis: Strong Uptrend Faces Resistance Level

November 12, 2024

Quantum Computing Investments: Opportunities & Risks

January 29, 2025

EURUSD and GBPUSD: The Euro managed to start...

September 2, 2024

Solana and Cardano: Cardano drops to new weekly...

October 24, 2024

EURGBP and EURCHF: EURGBP fails to gain new...

August 26, 2024

Bitcoin & Ethereum Analysis: BTC Hits High, ETH...

November 12, 2024

S&P 500 and Nasdaq: Targets and Prices for...

October 11, 2024

Wizz Air Launches ‘All You Can Fly’ Subscription...

August 15, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Elon Musk connects with indie Andrew Yang on billionaire former Trump ally’s third party push

      July 8, 2025
    • Bondi under siege after DOJ reveals no Epstein client list

      July 7, 2025
    • Over 158 million Americans voted in 2024 as Trump reclaimed the White House

      July 7, 2025
    • US ends terrorist designation of Syrian militant leaders

      July 7, 2025
    • Sen. Steve Daines says regime change is the best long-term plan in Iran

      July 7, 2025
    • Biden aides pushed for early debate to show off Biden’s ‘strength,’ expose Trump’s ‘weakness,’ book says

      July 7, 2025

    Categories

    • Business (707)
    • Investing (661)
    • Politics (4,813)
    • World News (3,189)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.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 © 2024 WhaleLargeCapital.com | All Rights Reserved