{"id":1519,"date":"2024-08-30T12:03:22","date_gmt":"2024-08-30T12:03:22","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/30\/ethereum-is-pulling-back-again-after-yesterdays-failure\/"},"modified":"2024-08-30T12:03:22","modified_gmt":"2024-08-30T12:03:22","slug":"ethereum-is-pulling-back-again-after-yesterdays-failure","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/08\/30\/ethereum-is-pulling-back-again-after-yesterdays-failure\/","title":{"rendered":"Ethereum is pulling back again after yesterday\u2019s failure"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Ethereum is pulling back again after yesterday\u2019s failure<\/h1>\n<p><span>Yesterday\u2019s Ethereum price recovery was halted at the significant resistance level of $2596<\/span><\/p>\n<h2>Ethereum chart analysis<\/h2>\n<p><span>Yesterday\u2019s Ethereum price recovery was halted at the significant resistance level of $2596. Following this, we observed a brief period of sideways consolidation, which then led to a bearish impulse towards the $2520 level, a key support level. The price is currently fluctuating within the $2505-$2540 range. The market is relatively stable, awaiting a significant price movement to determine the future trend.<\/span><\/p>\n<p><span>With Ethereum\u2019s price <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-price-is-back-to-the-support-zone-again-this-morning\/\">surpassing<\/a> $2540 and gaining support from the EMA 50 moving average, the potential for a substantial recovery over an extended period becomes more promising. This could lead to higher targets such as the $2650 and $2700 levels. A return to $2700 would bring us closer to the weekly open price around the $2750 level.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>The price is trying to start a new bullish consolidation this morning, does it have the strength to succeed?<\/h2>\n<p><span>Above this, Ethereum would be in a robust bullish momentum, potentially breaking last week\u2019s high and reaching a new four-week high. For a bearish option, Ethereum would have to move back down below this morning\u2019s $2500 support level. By going below, we go to a new daily low and confirm the current bearish pressure on the price to continue with the withdrawal to the bearish side. After that, the important level is $2460 because there was previous lower support from Wednesday.<\/span><\/p>\n<p><span>The impossibility of the Ethereum price staying there will influence the strengthening of the bearish momentum, and the price will start further falling to a new lower low. Potential lower targets are the $2350 and $2300 levels. This week\u2019s low price was at the $2395 level.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/ethereum-is-pulling-back-again-after-yesterdays-failure\/\">Ethereum is pulling back again after yesterday\u2019s failure<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is pulling back again after yesterday\u2019s failure Yesterday\u2019s Ethereum price recovery was halted at the significant resistance level of $2596 Ethereum chart analysis Yesterday\u2019s Ethereum price recovery was halted at the significant resistance level of $2596. Following this, we observed a brief period of sideways consolidation, which then led to a bearish impulse towards [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1519","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\/1519","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=1519"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1519\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/1520"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=1519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=1519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=1519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}