{"id":3110,"date":"2024-10-02T12:02:58","date_gmt":"2024-10-02T12:02:58","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/02\/ethereum-under-bearish-pressure-throughout-the-day\/"},"modified":"2024-10-02T12:02:58","modified_gmt":"2024-10-02T12:02:58","slug":"ethereum-under-bearish-pressure-throughout-the-day","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/02\/ethereum-under-bearish-pressure-throughout-the-day\/","title":{"rendered":"Ethereum under bearish pressure throughout the day"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Ethereum under bearish pressure throughout the day<\/h1>\n<p><span>The price of Ethereum only managed to reach the weekly open level today<\/span><\/p>\n<h2>Ethereum chart analysis<\/h2>\n<p><span>The price of Ethereum only managed to reach the weekly open level today. The weak momentum and the inability to move above it led to the initiation of a bearish consolidation again below the $2600 level. Strong bearish impulses pushed the price down to the $2414 level tonight. For now, we are holding above and recovering to the $2456 level.<\/span><\/p>\n<p><span>Despite the current short recovery, there\u2019s potential for a bullish <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-remains-under-bearish-pressure-on-tuesday\/\">scenario<\/a>. A minimum impulse above $2500 could alleviate some of the bearish pressure. With the formation of a new bottom, we could see a bullish consolidation of the Ethereum price. Potential higher targets are $2525 and $2550 levels. The EMA 200 moving average is up in the $2600 zone, and there, we can expect significant resistance.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>The price made a big pullback today after falling below the $2600 level<\/h2>\n<p><span>On the other hand, a bearish option is also possible. Ethereum could continue further, pulling down to the $2425 level. A descent into that level would increase bearish pressure, potentially leading to a further pullback to a new weekly low. Potential lower targets are $2400 and $2375 levels. The previous low was from September 18 at $2278. Today\u2019s price drop was 7.39%, while since the beginning of the week it is 9.28%.<\/span><\/p>\n<p><span>The entire cryptocurrency market saw a decline on October 1, influenced by several factors. Geopolitical tensions in the Middle East increased, leading to liquidations of long positions and a sell-off in the stock market. These events have contributed to the decline in cryptocurrency prices.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/ethereum-under-bearish-pressure-throughout-the-day\/\">Ethereum under bearish pressure throughout the day<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum under bearish pressure throughout the day The price of Ethereum only managed to reach the weekly open level today Ethereum chart analysis The price of Ethereum only managed to reach the weekly open level today. The weak momentum and the inability to move above it led to the initiation of a bearish consolidation again [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3110","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\/3110","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=3110"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3111"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}