Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Economy

The price of Ethereum falls to the support level at $3520

The price of Ethereum falls to the support level at $3520

The price of Ethereum has been in a pullback since Tuesday.

Ethereum chart analysis

The price of Ethereum has been in a pullback since Tuesday. After we climbed to $3679 on Tuesday, there was a stop there, and the price started a bearish consolidation. Wednesday first brought us a jump to the $3664 level, then a pullback to the $3460 support level. We saw a recovery and bullish consolidation on Thursday up to $3610.

This is where we make a lower low compared to the previous ones, increasing the pressure on the price to start a new pullback. This happened this morning with a drop to the $3550 support level. After that, a new consolidation that did not last long. The break below pushed Ethereum to a daily low of $3515. Here, we meet the EMA200 moving average and expect some consolidation or support.

Should we expect a continuation of the bearish trend of the Ethereum price below $3400?

If we do not get EMA200 support, a drop below and a strengthening of the bearish momentum of the price of Ethereum will follow. Watching how the price will behave at the $3500 level will be interesting. The volatility will see it slip below and test the support zone from Wednesday. Potential lower targets are $3480 and $3460 levels.

For a bullish option, we need EMA200 support first. After that, we can start a bullish consolidation in order to climb above the $3580 level. That could push the price to test the $3600 level. Depending on the bullish impulse, the price would have the opportunity to jump over that level and continue further growth above. Potential higher targets are the $3620 and $3640 levels.

 

The post The price of Ethereum falls to the support level at $3520 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive 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!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.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 smartsuccessstrategy.com