{"id":4061,"date":"2024-10-25T12:03:45","date_gmt":"2024-10-25T12:03:45","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/25\/bitcoin-and-ethereum-continued-bearish-pressure-on-friday\/"},"modified":"2024-10-25T12:03:45","modified_gmt":"2024-10-25T12:03:45","slug":"bitcoin-and-ethereum-continued-bearish-pressure-on-friday","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/25\/bitcoin-and-ethereum-continued-bearish-pressure-on-friday\/","title":{"rendered":"Bitcoin and Ethereum: continued bearish pressure on Friday"},"content":{"rendered":"
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Bitcoin and Ethereum: continued bearish pressure on Friday<\/h1>\n

On Thursday, October 24, the price of Bitcoin climbed to a new three-day high at the $68,800 level<\/span>
\nYesterday, October 24, the price of Ethereum had a new attempt to recover but again encountered the same resistance at the $2650 level<\/span><\/p>\n

Bitcoin chart analysis<\/h2>\n

On Thursday, October 24, the price of Bitcoin climbed to a new three-day high at the $68,800 level. We failed to reach the weekly open level, and a pullback below $68,000 was initiated. With that step, the price dropped below the daily open level, thereby intensifying the pressure. Today\u2019s low was formed at the $67200 level. This is where Bitcoin could find support from the EMA 200 moving average.<\/span><\/p>\n

The price needs to stabilize again before turning to the bullish<\/a> side. Potential higher targets are the $68,000 and $68,500 levels. For a bearish option, the Bitcoin price must break the 200 moving average EMA support. After that, we continue on the bearish side, making a new low. Potential lower targets are the $67,000 and $66,500 levels.<\/span><\/p>\n

\u00a0<\/p>\n

Ethereum chart analysis<\/h2>\n

Yesterday, October 24, the price of Ethereum had a new attempt to recover but again encountered the same resistance at the $2650 level. We started the retreat from there again last night, which continued on Tuesday, October 25. Ethereum formed a daily low at the $2461 level and came significantly closer to the weekly low of $2450. Now, we are monitoring how the price will behave in this zone because we could easily see a continuation to the bearish side and the formation of a new weekly low.<\/span><\/p>\n

Potential lower targets are $2425 and $2400 levels. For a bullish option, we expect Ethereum to stabilize first and stop the current bearish momentum. After that, we expect the start of a bullish consolidation and a return above the $2500 level. Such a move would be a good indication of a return to the bullish side. Potential higher targets are $2525 and $2550 levels.<\/span><\/p>\n<\/p>\n

\u00a0<\/p>\n

The post Bitcoin and Ethereum: continued bearish pressure on Friday<\/a> appeared first on FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin and Ethereum: continued bearish pressure on Friday On Thursday, October 24, the price of Bitcoin climbed to a new three-day high at the $68,800 level Yesterday, October 24, the price of Ethereum had a new attempt to recover but again encountered the same resistance at the $2650 level Bitcoin chart analysis On Thursday, October […]<\/p>\n","protected":false},"author":0,"featured_media":4062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4061","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\/4061","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=4061"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/4061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/4062"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=4061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=4061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=4061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}