{"id":1251,"date":"2024-08-26T12:03:23","date_gmt":"2024-08-26T12:03:23","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/26\/ethereum-price-in-search-of-a-new-support-level\/"},"modified":"2024-08-26T12:03:23","modified_gmt":"2024-08-26T12:03:23","slug":"ethereum-price-in-search-of-a-new-support-level","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/26\/ethereum-price-in-search-of-a-new-support-level\/","title":{"rendered":"Ethereum price in search of a new support level"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Ethereum price in search of a new support level<\/h1>\n<p><span>On Saturday, the price of Ethereum climbed to a new three-week high at $2820<\/span><\/p>\n<h2>Ethereum chart analysis<\/h2>\n<p><span>On Saturday, the price of Ethereum climbed to a new three-week high at $2820. However, the price did not have the strength to continue on the bullish side and had to initiate a pullback from there. We soon dropped to weekend support at the $2740 level. There, we got support from the EMA 50 moving average and saw a recovery to $2792. Here, a lower high was formed compared to the day before, which is interpreted as a <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-price-on-the-defensive-since-this-morning\/\">continuation<\/a> on the bearish side.<\/span><\/p>\n<p><span>This happened because we saw a bearish impulse on the EMA50 moving average. On Monday, Ethereum continued its retreat to a new low of $2711. We are holding above that level for now and moving up to $2735. Another step lower, we would test the EMA 200 moving average at $2690.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>The bearish pressure since this morning has influenced the price to start retreating below the EMA 50<\/h2>\n<p><span>If Ethereum\u2019s price breaks below this support, it will reinforce today\u2019s bearish momentum. This would continue bearish consolidation, and we would have to visit lower levels. However, there is a potential for a bullish option. We need a price return above the EMA 50 moving average and the $2750 level. If this happens, we could see a stabilization at higher levels, bringing hope for a bullish trend.<\/span><\/p>\n<p><span>If Ethereum succeeds in this, it will be well positioned to initiate further bullish consolidation. This could bring a new daily high and thus confirm that we are on the bullish side. Potential higher targets are $2780 and $2800 levels. Below, we hope to test the previous weekend\u2019s high, reinforcing the potential for a bullish trend.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/ethereum-price-in-search-of-a-new-support-level\/\">Ethereum price in search of a new support level<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price in search of a new support level On Saturday, the price of Ethereum climbed to a new three-week high at $2820 Ethereum chart analysis On Saturday, the price of Ethereum climbed to a new three-week high at $2820. However, the price did not have the strength to continue on the bullish side and [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1252,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1251","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=1251"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1251\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/1252"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=1251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=1251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=1251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}