Economy

The price of Ethereum surged to the $3275 level this morning

The price of Ethereum surged to the $3275 level this morning

Ethereum price has been in a steady bullish consolidation since the beginning of this week. 

Ethereum chart analysis

Ethereum price has been in a steady bullish consolidation since the beginning of this week. Yesterday, we had a test of support at the $3160 level with support from the EMA200 moving average. After that, the price started a bullish consolidation and climbed to $3265.

There, we formed a new weekly high. After the check, we saw a return and testing of new support at the $3200 level. From there, a new positive consolidation was initiated, which continued today with the formation of a new weekly high at the $3275 level.

Now, there has been a slowdown in the bullish option, and the price has pulled back, looking for support at the $3250 level. If we succeed in this, we will have a new level of support from which we can continue to the bullish side.

Potential higher targets are $3290 and $3300 levels.

We are getting closer to the $3300 level, does Ethereum have the strength to reach it?

If the support at $3250 does not hold, Ethereum could be in trouble as it would move away from the previous bullish paths and be on the verge of breaking the previous bullish formation. After that, we look at the $3200 zone because that’s where we come across the EMA50 moving average.

A new impulse could easily send us below and spoil our bullish plans. The next lower support is at the $3170 level because here we encounter the EMA200 moving average, and it could provide us with more concrete support and stop the further retreat. Potential lower targets are $3150 and $3125 levels.

 

 

The post The price of Ethereum surged to the $3275 level this morning appeared first on FinanceBrokerage.

You May Also Like

Editor's Pick

ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

Investing

Democratic Gov. Janet Mills on Wednesday vetoed a bill aimed at prohibiting foreign influence in Maine elections, but voters will get the final say...

Latest News

There were several reasons offered in support of the congestion pricing plan that was supposed to go into effect in New York at the...

Latest News

House Speaker Mike Johnson (R-La.) on Wednesday appointed Reps. Scott Perry (R-Pa.) and Ronny Jackson (R-Tex.), two Trump loyalists who denied the results of...

Disclaimer: realinvestmentstar.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 realinvestmentstar.com