• 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
  • Jimmy Carter is still enjoying ice cream and meeting with family 3 months into hospice care, grandson says
  • In Defense of Arguing
  • Former US Senator Santorum joins North Carolina House to push constitutional convention
  • Biden’s hit on Trump over ‘suckers’ and ‘losers’ report backfires with independents: focus group
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

Biden uses minor fire at his house to claim he...

August 22, 2023

‘Feel betrayed’: Top conservative group blasts vulnerable Dems on inflation...

August 7, 2024

Axios omits crucial details about economists who say Trump will...

June 27, 2024

Senate likely to recess without passing Ukraine and Israel funding,...

December 12, 2023

Scathing poll reveals what Biden has in common with these...

April 30, 2024

Border Patrol apprehensions of Chinese nationals at southern border up...

February 10, 2023

Biden slams Trump multiple times in State of the Union...

March 8, 2024

California lawmakers to honor anti-Catholic Sisters of Perpetual Indulgence member,...

June 1, 2023

Who is Jason Palmer, the obscure presidential candidate who delivered...

March 6, 2024

Lawmakers call for sending Abrams tanks to Ukraine as Russia...

January 23, 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

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

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

      June 27, 2024 2,919 views
    • 3

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

      August 9, 2024 2,607 views
    • 4

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

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

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

      June 25, 2024
    • 2

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

      June 27, 2024
    • 3

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

      August 9, 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

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    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

    House Democrat slams Bernie Sanders’ call...

    November 21, 2023

    Jill Biden gushes over president’s debate...

    June 28, 2024

    Secret Service admits leaning on ‘state...

    July 21, 2024
    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