{"id":1637,"date":"2024-09-02T12:03:23","date_gmt":"2024-09-02T12:03:23","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/09\/02\/ethereum-remained-under-pressure-at-the-start-of-this-week\/"},"modified":"2024-09-02T12:03:23","modified_gmt":"2024-09-02T12:03:23","slug":"ethereum-remained-under-pressure-at-the-start-of-this-week","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/09\/02\/ethereum-remained-under-pressure-at-the-start-of-this-week\/","title":{"rendered":"Ethereum remained under pressure at the start of this week"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Ethereum remained under pressure at the start of this week<\/h1>\n<p><span>On Sunday, the price of Ethereum dropped to $2398<\/span><\/p>\n<h2>Ethereum chart analysis<\/h2>\n<p><span>On Sunday, the price of Ethereum dropped to $2398. We were close to hitting a new weekly low but stopped short of it. It still remains at the current low of $2395 from Wednesday. This morning, with the beginning of Monday, prices stabilized and started a recovery to the $2470 level.<\/span><\/p>\n<p><span>Here, we come across the EMA 50 moving average, where we had resistance in the previous days. If the current <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-price-continues-to-pull-back-on-monday\/\">bullish<\/a> momentum continues, we expect to see an impulse above and the formation of a new daily high. We also get support from the EMA 50 for further continuation on the bullish side. Potential higher targets are the $2500 and $2550 levels. In the $2550 zone, we will test the large EMA 200 moving average.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Can we expect the price to stabilize and start a more concrete recovery?<\/h2>\n<p><span>EMA 200 support would be crucial for us to progress further this week. Last week\u2019s high is at the $2750 level. For a bearish option, we need the price of Ethereum to drop down to the daily open level. New pressure on that level could easily move us below to a new low and thus confirm that we are under bearish pressure.<\/span><\/p>\n<p><span>After that, all we have to do is continue the pullback and create a new lower low. Potential lower targets are the $2350 and $2300 levels. Falling to $2300 level, we tested the August support zone. If we look at the bigger picture, the price of Ethereum is in a bearish trend for the fourth month in a row. Based on this, we conclude that the price could retest the significant support around the $2200 level again.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/ethereum-remained-under-pressure-at-the-start-of-this-week\/\">Ethereum remained under pressure at the start of this week<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum remained under pressure at the start of this week On Sunday, the price of Ethereum dropped to $2398 Ethereum chart analysis On Sunday, the price of Ethereum dropped to $2398. We were close to hitting a new weekly low but stopped short of it. It still remains at the current low of $2395 from [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":1638,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1637","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\/1637","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=1637"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/1637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/1638"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=1637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=1637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=1637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}