{"id":3706,"date":"2024-10-16T18:03:18","date_gmt":"2024-10-16T18:03:18","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/16\/ethereum-consolidates-for-new-targets-and-prices-wednesday\/"},"modified":"2024-10-16T18:03:18","modified_gmt":"2024-10-16T18:03:18","slug":"ethereum-consolidates-for-new-targets-and-prices-wednesday","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/16\/ethereum-consolidates-for-new-targets-and-prices-wednesday\/","title":{"rendered":"Ethereum Consolidates for New Targets and Prices Wednesday"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Ethereum Consolidates for New Targets and Prices Wednesday<\/h1>\n<p><span>The price of Ethereum yesterday had a strong bullish impulse to a new weekly high at the $2686 level<\/span><\/p>\n<h2>Ethereum chart analysis<\/h2>\n<p><span>The price of Ethereum yesterday had a strong bullish impulse to a new weekly high at the $2686 level. The price fell with a strong bearish impulse back to the $2540 support level in the next hour. We managed to consolidate at $2565 and get support from the EMA 50 moving average there. After that, Ethereum started a bullish consolidation that was above the $2600 level.<\/span><\/p>\n<p><span>This caused the price to rise to $2,630 this morning, forming a daily high there. We have a new <a href=\"https:\/\/www.financebrokerage.com\/the-bitcoin-price-rose-to-a-new-october-high-yesterday\/\">resistance<\/a> at that level and are starting a mild bearish consolidation up to $2600. The EMA 50 moving average is waiting for us in the zone of $2585, and we could test it if the pullback continues. If that is not enough support, Ethereum will have to break below and form a new daily low.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>The price stops this morning at the $2630 level, where it loses its bullish momentum<\/h2>\n<p><span>Potential lower targets are $2575 and $2550 levels. The EMA 200 moving average is waiting for us in the $2525 zone as additional support for staying on the bullish side. For a bullish option, Ethereum would have first to break above today\u2019s resistance level. If it succeeds in that intention, the price will form a new daily high and thus confirm that it has the strength to start a recovery.<\/span><\/p>\n<p><span>After that, the chances of starting a bullish consolidation and a jump above $2650 increase. That should be enough momentum to attack the previous high and try to reach the $2700 level. Potential higher targets are $2725 and $2750 levels.<\/span><\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/ethereum-consolidates-for-new-targets-and-prices-wednesday\/\">Ethereum Consolidates for New Targets and Prices Wednesday<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum Consolidates for New Targets and Prices Wednesday The price of Ethereum yesterday had a strong bullish impulse to a new weekly high at the $2686 level Ethereum chart analysis The price of Ethereum yesterday had a strong bullish impulse to a new weekly high at the $2686 level. The price fell with a strong [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3706","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\/3706","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=3706"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3706\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3707"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}