Connect with us

Hi, what are you looking for?

Economy

Ethereum price is trying to stay above the $3800 level

Ethereum price is trying to stay above the $3800 level

The price of Ethereum is retreating under slight bearish pressure and on Thursday below the $3850 level. 

Ethereum chart analysis

The price of Ethereum is currently under the influence of slight bearish pressure, which was evident on Thursday when it dipped below the $3850 level. However, the market saw a strong, bearish impulse that was supported at the $3759 level. This led to a quick recovery, pushing the price back above the EMA200 moving average and $3800.

From the current zone, a recovery was initiated this morning, reaching the level of $3825. However, the momentum failed to continue, and the price turned bearish again, currently at the $3809 level. The market movement is notably slow today, with low volume on the chart. A significant move above the EMA50 is needed to break away and initiate further correction.

 

Are we staying on the bullish side, or are we heading into a deeper pullback?

A move to the $3840 level would be a great move that would pull Ethereum’s price back to the bullish side. Potential higher targets are $3860 and $3880 levels. This week’s high price was on Wednesday at the $3887 level.

We need to initiate a negative consolidation up to the $3800 level for a bearish option. In that zone, we will test the EMA200 moving average. If the pressure on the price continues, it will fall below and descend to the weekly open price of $3778. With a new bearish momentum, we break through that support and move to a new low. This only reinforces the negative image of Ethereum. Potential lower targets are $3760 and $3740 levels.

 

The post Ethereum price is trying to stay above the $3800 level appeared first on FinanceBrokerage.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

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

    Stock

    The Dow Jones Industrial Average jumped Friday for its best session of the year, as investors wrapped up a strong month after the Federal Reserve’s preferred...

    Latest News

    Manhattan District Attorney Alvin Bragg signaled Friday that he is willing to testify about his prosecution of former President Donald Trump — but not...

    Editor's Pick

    GlobalPlatform takes leading role in helping the IoT ecosystem address regulatory fragmentation and better understand, deploy and promote security. In response to the growing...

    Stock

    Spotify is increasing its prices in the United States for many of its subscription plans. In a statement on its website, the audio streaming...

    Disclaimer: Financetimereport.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 Financetimereport.com