• Economy
  • Investing
Long Distance Investing
  • Stock
  • Editor’s Pick
Stock

Ethereum remained under pressure at the start of this week

by September 2, 2024
written by September 2, 2024

Ethereum remained under pressure at the start of this week

On Sunday, the price of Ethereum dropped to $2398

Ethereum chart analysis

On Sunday, the price of Ethereum dropped to $2398. We were close to hitting a new weekly low but stopped short of it. It still remains at the current low of $2395 from Wednesday. This morning, with the beginning of Monday, prices stabilized and started a recovery to the $2470 level.

Here, we come across the EMA 50 moving average, where we had resistance in the previous days. If the current bullish momentum continues, we expect to see an impulse above and the formation of a new daily high. We also get support from the EMA 50 for further continuation on the bullish side. Potential higher targets are the $2500 and $2550 levels. In the $2550 zone, we will test the large EMA 200 moving average.

 

Can we expect the price to stabilize and start a more concrete recovery?

EMA 200 support would be crucial for us to progress further this week. Last week’s high is at the $2750 level. For a bearish option, we need the price of Ethereum to drop down to the daily open level. New pressure on that level could easily move us below to a new low and thus confirm that we are under bearish pressure.

After that, all we have to do is continue the pullback and create a new lower low. Potential lower targets are the $2350 and $2300 levels. Falling to $2300 level, we tested the August support zone. If we look at the bigger picture, the price of Ethereum is in a bearish trend for the fourth month in a row. Based on this, we conclude that the price could retest the significant support around the $2200 level again.

 

The post Ethereum remained under pressure at the start of this week appeared first on FinanceBrokerage.

0 comment
0
FacebookTwitterPinterestEmail

previous post
USDCHF and USDJPY: USDJPY is using a new support to recover
next post
Fisker (FSR) Stock: Struggles, Surprises, and the Road Ahead

You may also like

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

April 22, 2025

Trump’s Fed Criticism Sparks Investor Concerns

April 22, 2025

Oil Prices Rebound After Trump’s Criticism of Powell

April 22, 2025

BNB Price Surge Leads Crypto Gains as Bitcoin...

April 21, 2025

Fed’s Stagflation Warning Impacts Crypto Markets

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

Kraken Rolls Out Commission-Free Stock Trading

April 21, 2025

Bitcoin Nears $85K Amid Market Optimism

April 21, 2025

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

April 21, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • Semtech Showcases Next-Gen LoRa® Technology at IoT Solutions World Congress 2025

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Categories

    • Economy (679)
    • Editor's Pick (348)
    • Investing (4,555)
    • Stock (820)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: Longdistanceinvestings.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 Longdistanceinvestings.com

    Long Distance Investing
    • Economy
    • Investing
    Long Distance Investing
    • Stock
    • Editor’s Pick