Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
Locksley Resources LimitedQualifies for Trading on U.S. OTCQX...
Successful Completion-Impurity Removal Neutralization Tests
Locksley Qualifies for Trading on U.S. OTCQX Market
Successful A$4.5m Two Tranche Placement
Locksley Announces Major Advancement at Mojave as Structural...
Silver Storm Secures US$7 Million Samsung Financing to...
Chairman Joins Prime Minister’s India Trade Visit
China Heightens Rare Earths Export Controls, Includes Tech...
Crypto Market Update: Altcoins Retreat as Bitcoin ETFs...
Tech Weekly: Market Dives After Week-Long Rally as...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

Ethereum goes sideways on Wednesday above $2600

by admin September 26, 2024
September 26, 2024
Ethereum goes sideways on Wednesday above $2600

Ethereum goes sideways on Wednesday above $2600

  • On Wednesday, Ethereum prices rose to the $2672 level

Ethereum chart analysis

On Wednesday, Ethereum prices rose to the $2672 level. We are slowly moving away from the bullish rally from the beginning of the week. For the second day, the price is moving sideways in the $2600-$2680 range and looks a bit stuck. We are currently at $2620 and trying to stay in the support zone. The EMA 50 moving average is slowly moving to the bearish side and increasing the pressure on Ethereum.

There’s a possibility that the price could break below $2600, testing the weekly open level of $2580. A new push to that level could introduce instability on the chart, potentially leading to a bearish breakout. Lower targets at the $2560 and $2540 levels could come into play. However, the EMA 200 moving average could help slow down the bearish trend, preparing investors to respond to market changes.

 

The price is moving sideways after a weak bullish momentum moving away from the weekly high

For a bullish option, we need a positive consolidation and a crossing of Ethereum above the EMA 50 moving average and the $2640 level. With that step, we would start a small bullish momentum. We expect it to bring us back above the daily open level of $2652. By returning to the positive side, the chances of breaking above $2680 and thereby exiting the sideways movement range are increasing. Potential higher targets are the $2700 and $2720 levels.

Despite high expectations and a strong start for Ethereum ETFs in July 2024, the latest crypto-based ETFs have so far failed to sustain institutional interest. Challenges may lie ahead for Ethereum ETFs as speculation grows about the possible launch of ETFs for rival cryptocurrencies, such as Ripple’s XRP. The challenges facing Ethereum have not dampened the optimism of many cryptocurrency analysts.

 

The post Ethereum goes sideways on Wednesday above $2600 appeared first on FinanceBrokerage.

previous post
Caroline Ellison, former FTX exec, sentenced to 2 years in prison
next post
S&P 500 and Nasdaq: S&P 500 rushes to new all-time high

You may also like

IAG Stock In Top Performing Stock With 16.83%...

October 22, 2024

The dollar index is bullish again from this...

October 22, 2024

Air Direct Capture – Reducing CO2 from the...

August 1, 2024

S&P 500 and Nasdaq: S&P 500 faces resistance...

September 4, 2024

S&P 500 climbed 0.3%, and Nasdaq-100 futures jumped...

January 1, 2025

AUDUSD and AUDNZD: AUDUSD is gaining support at ...

September 3, 2024

S&P 500 and Nasdaq close to erasing last...

September 16, 2024

Oil and Natural Gas: New Highs and Targets...

October 5, 2024

Top Stock Gainers And Losers: PCT +29.59%, ICLR...

October 26, 2024

Bitcoin continues to stick to the bullish side...

September 12, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Locksley Resources LimitedQualifies for Trading on U.S. OTCQX Market

      October 13, 2025
    • Successful Completion-Impurity Removal Neutralization Tests

      October 13, 2025
    • Locksley Qualifies for Trading on U.S. OTCQX Market

      October 13, 2025
    • Successful A$4.5m Two Tranche Placement

      October 13, 2025
    • Locksley Announces Major Advancement at Mojave as Structural Mapping Expands Scale of Antimony Target with a 400% Increase in Target Strike Length

      October 11, 2025
    Promotion Image

    banner ads

    Categories

    • Business (889)
    • Economy (829)
    • Investing (3,009)
    • Politics (737)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: smarttradeinsights.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 smarttradeinsights.com | All Rights Reserved