Smart Trade Insights
  • Business
  • Economy
  • Investing
  • Politics
Top Posts
BHP Faces AU$1.3 Billion Wage Adjustment for Queensland...
​Royal Gold to Create Streaming and Royalty Giant...
Chris Berry: The West Must Invest in Refinement...
Torex Gold Moves Beyond Single-Asset Status With Reyna...
Ekin Ober on Why AI Could Be Mining’s...
Maritime Resources: A Low-risk Path to Gold Production...
Stallion Uranium Provides Update on Technology Data Acquisition...
Trump Tariffs to Raise US Medical Device Costs,...
EVs Now Emit 73 percent Less Than Gasoline...
OpenAI to release web browser in challenge to...
  • Business
  • Economy
  • Investing
  • Politics

Smart Trade Insights

Economy

Ethereum is rising to a new weekly high this morning

by admin October 16, 2024
October 16, 2024
Ethereum is rising to a new weekly high this morning

Ethereum is rising to a new weekly high this morning

  • The price of Ethereum rose to $2652 this morning, a new weekly high

Ethereum chart analysis

The price of Ethereum rose to $2652 this morning, a new weekly high. After that, bullish momentum was lost, and we were forced to start a pullback. We find support at $2,590, and the price has been successfully held back above $2,600. Now, Ethereum is at the $2620 level, and we expect it to move above the daily open level. This would return to the positive side and increase optimism for further progress to the bullish side.

This means we will see a retest of the previous high and hope for a new one to form. Potential higher targets are $2675 and $2700 levels. The price was above $2,700 the previous time on September 28. For a bearish option, Ethereum needs to stop trying to get back above the daily open level.

 

The price is losing momentum after forming a new weekly high this morning

After that, it remains to see the initiation of bearish consolidation and the testing of today’s low. A break below is a sign that the price does not have the strength to remain bullish and to follow a deeper pullback to a new low. In the $2550 zone, we will meet the EMA 50 moving average. Failure to hold above and gain its support will cause Ethereum to continue its bearish trend. Potential lower targets are $2525 and $2550 levels.

Spot Ether ETFs saw a net inflow of $17.07 million on Monday, the largest positive inflow this month. If the October trend continues, we can expect even higher net inflows, which is good for Ethereum’s positioning in the overall crypto basket.

 

The post Ethereum is rising to a new weekly high this morning appeared first on FinanceBrokerage.

previous post
SafeMoon and Litecoin: Levels and Prices for Tuesday
next post
The price of Bitcoin rose to a new weekly high this morning

You may also like

Dogecoin and Shiba Inu: New Support and Resistance...

October 11, 2024

The S&P 500 and Nasdaq have been bullish...

August 18, 2024

Nvidia Stock Soars 16% as AI Spending Takes...

October 22, 2024

Solana Price Analysis and Future Predictions

September 5, 2024

Stock Futures Lower after S&P 500 futures ticked...

December 10, 2024

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

January 18, 2025

Goldman Sachs Kostin Warns of a Potential S&P...

March 7, 2025

S&P 500 and Nasdaq under pressure from global...

August 7, 2024

Stock Futures Lower after S&P 500 futures ticked...

December 30, 2024

Tesla Stock Jumps 22% After Q3 Earnings

October 29, 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

    • BHP Faces AU$1.3 Billion Wage Adjustment for Queensland Coal Miners

      July 11, 2025
    • ​Royal Gold to Create Streaming and Royalty Giant in US$3.7 Billion Deal

      July 11, 2025
    • Chris Berry: The West Must Invest in Refinement Now or Fall Further Behind

      July 11, 2025
    • Torex Gold Moves Beyond Single-Asset Status With Reyna Silver Takeover

      July 11, 2025
    • Ekin Ober on Why AI Could Be Mining’s Most Valuable Tool Yet

      July 11, 2025
    Promotion Image

    banner ads

    Categories

    • Business (764)
    • Economy (829)
    • Investing (2,387)
    • 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