Connect with us

Hi, what are you looking for?

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

Economy

Bitcoin and Ethereum: Ethereum slips to $2361 to new low

Bitcoin and Ethereum: Ethereum slips to $2361 to new low

On Friday, the price of Bitcoin fell to a new low this year at the $40258 level.
On Friday, we saw Ethereum’s price pull back to the $2410.

Bitcoin chart analysis

On Friday, the price of Bitcoin fell to a new low this year at the $40258 level. A quick recovery followed and a jump to the $42,000 level. During the weekend, the price movement was in the $41500-$41850 range. As we entered Monday, the price of Bitcoin began to retreat. We easily broke the support levels one after the other, $41250, $41000 and $40750, and now the price is at the $40650 level. We remain under bearish pressure to continue further pullback.

Potential lower targets are $40250 and $40000 levels. For a bullish option, we would have to go up to $41250 and form a bottom there. After that, we need a positive consolidation that would trigger a bullish option. Potential higher targets are $41500 and $41750 levels. EMA200 moving average is high at the $42200 level.

Ethereum chart analysis

On Friday, we saw Ethereum’s price pull back to the $2410. After the support, the price recovered to the $2500 level. Additional pressure in that zone creates the EMA200 moving average. The price was quite calm during the weekend, moving in the $2450-$2480 range. At the beginning of Monday, the price immediately showed that it was going to the bearish side. We quickly broke the support at the $2450 level. This led to the continuation of the pullback towards the $2400 level.

The decline did not stop there either, and the price slipped to $2,361. We are now looking at $2350 and $2325 as potential lower targets. We need a positive consolidation and a return above the $2400 level for a bullish option. That would start a resistance, but we would have to move above the $2425 level. Potential higher targets are $2450 and $2475 levels.

 

The post Bitcoin and Ethereum: Ethereum slips to $2361 to new low 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