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

Whale Large Capital

Investing

Ethereum fails to hold on to the bullish trend on Tuesday

by October 8, 2024
October 8, 2024
Ethereum fails to hold on to the bullish trend on Tuesday

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
FacebookTwitterGoogle +Pinterest
previous post
Dogecoin is in retreat for the second day in a row
next post
Tech Regulations: The EU regulates, the US steps back

You may also like

S&P 500 Surges to 6,000: Election Year Momentum

October 21, 2024

The Euro index on the bearish side since...

August 15, 2024

Solana Price Analysis and Future Predictions

September 4, 2024

Solana and Cardano: New Lows and Targets for...

October 3, 2024

Gold and Silver: New Higher Targets and Prices...

October 11, 2024

EURGBP and EURCHF: EURCHF extends bullish trend

August 12, 2024

Bitcoin price pulled back to new support this...

September 11, 2024

Ethereum has successfully returned to a bullish trend

August 14, 2024

Air Direct Capture – Reducing CO2 from the...

March 20, 2025

USDCHF and USDJPY: USDCHF continues the bullish trend

August 12, 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

    • Jerome Powell asks inspector general to review Fed’s $2.5B renovation project

      July 15, 2025
    • ‘Squad’ members ‘decide to lie and twist facts’ about Israel’s history, says prominent Arab activist

      July 15, 2025
    • Mike Waltz gears up for post-Signalgate ‘brutal’ grilling from Dems in UN ambassador hearing

      July 15, 2025
    • America has the power to lead the AI revolution – and the leadership to make it happen

      July 15, 2025
    • Hawley urges DHS Secretary Noem to declassify all Trump Butler rally assassination attempt documents

      July 15, 2025
    • Iran vows retaliation if UN Security Council issues snapback sanctions on anniversary of nuclear deal

      July 14, 2025

    Categories

    • Business (717)
    • Investing (661)
    • Politics (4,898)
    • World News (3,213)
    • 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