• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Ethereum under bearish pressure throughout the day
Economy

Ethereum under bearish pressure throughout the day

by October 2, 2024
by October 2, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Ethereum under bearish pressure throughout the day

The price of Ethereum only managed to reach the weekly open level today

Ethereum chart analysis

The price of Ethereum only managed to reach the weekly open level today. The weak momentum and the inability to move above it led to the initiation of a bearish consolidation again below the $2600 level. Strong bearish impulses pushed the price down to the $2414 level tonight. For now, we are holding above and recovering to the $2456 level.

Despite the current short recovery, there’s potential for a bullish scenario. A minimum impulse above $2500 could alleviate some of the bearish pressure. With the formation of a new bottom, we could see a bullish consolidation of the Ethereum price. Potential higher targets are $2525 and $2550 levels. The EMA 200 moving average is up in the $2600 zone, and there, we can expect significant resistance.

 

The price made a big pullback today after falling below the $2600 level

On the other hand, a bearish option is also possible. Ethereum could continue further, pulling down to the $2425 level. A descent into that level would increase bearish pressure, potentially leading to a further pullback to a new weekly low. Potential lower targets are $2400 and $2375 levels. The previous low was from September 18 at $2278. Today’s price drop was 7.39%, while since the beginning of the week it is 9.28%.

The entire cryptocurrency market saw a decline on October 1, influenced by several factors. Geopolitical tensions in the Middle East increased, leading to liquidations of long positions and a sell-off in the stock market. These events have contributed to the decline in cryptocurrency prices.

 

The post Ethereum under bearish pressure throughout the day appeared first on FinanceBrokerage.

You Might Also Like
  • ‘We do not have a comment’: White House refuses to address Middle East unrest, defers to State Dept.
  • Biden needs to learn from Carter about standing up to our adversaries
  • Eric Adams ‘slept like a baby’ at new NYC migrant shelter following migrant stake-out scandal
  • Scalise to focus on Trump’s compassion in RNC speech, says assassination attempt brought back 2017 ’emotions’
Share
0
FacebookTwitterPinterestWhatsapp

previous post
The S&P 500 and Nasdaq retreated to new lows yesterday
next post
Bitcoin remains under bearish pressure on Tuesday

You may also like

Maui emergency management admin resigns day after questioned about sirens...

August 18, 2023

Israel’s US ambassador slams Schumer’s ‘unhelpful’ anti-Netanyahu speech: ‘Israel is...

March 15, 2024

Hunter goes shopping with Joe Biden days after defying congressional...

December 19, 2023

New York Senate rejects Gov. Hochul’s nominee to lead the...

January 19, 2023

Biden judicial nominee takes heat over recommendation for transgender inmate,...

June 13, 2024

White House calls on world leaders to help stop ‘reckless’...

March 7, 2024

Trump indictment unlikely to sway Wisconsin Supreme Court race

April 1, 2023

Bill Barr: DOJ should release FBI doc alleging Biden bribery...

June 20, 2023

Neighbors caught on camera fighting each other with garden tools...

January 14, 2024

Schumer breaks silence on Chinese spy balloon, praises Biden admin...

February 5, 2023

    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

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’ consumer products

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp up Max production, CEO says

      May 29, 2025
    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

      May 29, 2025
    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

      May 29, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,764 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,470 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,450 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,431 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,307 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,105)
    • Investing (538)
    • Stock (2,578)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Amazon taps Xbox co-founder to lead new team developing ‘breakthrough’...

      May 30, 2025
    • Nvidia results spark global chip rally

      May 30, 2025
    • Boeing to resume airplane deliveries to China next month, ramp...

      May 29, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,105)
    • Investing (538)
    • Stock (2,578)

    Disclaimer: RoundTableThoughts.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 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Morning Glory: Trump’s short list for...

    June 20, 2024

    Nvidia Stock Rises with DJIA Inclusion...

    November 8, 2024

    Former Illinois GOP gubernatorial candidate Darren...

    July 5, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here