Connect with us

Hi, what are you looking for?

Trading Secrets

The price of Ethereum rises to the $4045 level on Monday

The price of Ethereum rises to the $4045 level on Monday

The price of Ethereum reached the $4000 level on Friday.

Ethereum chart analysis

The price of Ethereum reached the $4000 level on Friday. After that, the weekend passed pretty smoothly until Sunday evening, when we approached to the Monday. The price started to retreat in a panic, and in the first hour on Monday, we saw a drop to the $3733 level. We stayed down for a short time, and a quick pullback followed above the $3800 level.

From that level, the price of Ethereum initiated a bullish consolidation and rose above the $3900 level. A strong bullish impulse continued to push the price above $4000 and took it to a new high at the $4045 level. We are now watching the strength of this momentum, which could continue to push the price to a new high. Potential higher targets are the $4050 and $4060 levels.

The next target for Ethereum is the $4100 level; if we hold above $4000

We need a pullback below the $4000 level for a bearish Ethereum price option. This could trigger a new bearish consolidation and thus confirm that the price is losing momentum to the bullish side. With the return to $3900, we switch to testing this morning’s support zone. Potential lower targets are the $3850 and $3800 levels.

The EMA200 moving average is at the $3775 level. In the previous 24 hours, Ethereum’s trading volume increased by 83%, while its market cap increased by 2.3% to 484 billion dollars.

The post The price of Ethereum rises to the $4045 level on Monday appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    Maximizing Profits in Forex with the XMaster Formula Indicator Key Takeaways: XMaster Formula Indicator is a reliable and accurate tool for Forex traders to...