Connect with us

Hi, what are you looking for?

Trading Secrets

Ethereum price climbs to EMA200 moving average and $3000

Ethereum price climbs to EMA200 moving average and $3000

Ethereum’s new two-week low price was formed this morning at the $2864 level.

Ethereum chart analysis

Ethereum’s new two-week low price was formed this morning at the $2864 level. After forming a new low price, it manages to hold there and initiate a bullish consolidation from there. With a couple of strong, bullish impulses, we climb up to $2980 and test the resistance in the EMA200 moving average. The moving average is a widely used technical indicator that smooths out price data to identify trends. On Friday, we were in the EMA200 zone but failed to step above it.

Despite a bearish impulse that brought us down to the $2880 level, Ethereum’s price demonstrated resilience. It maintained a stable bullish consolidation up to $2950 over the weekend. This resilience is a positive sign, hinting at the potential for a recovery on the bullish side.

Is there a way for Ethereum to skip EMA200?

Potential higher targets are $3020 and $3040 levels. A successful jump to $3060 would test the previous resistance zone, indicating a bullish trend. However, a failure to move above the EMA200 could lead to a negative consolidation, with the $2950 level becoming a key area of interest. Potential lower targets are $ 2900 and $ 2850 in this case.

Even if we slip below the EMA50 moving average, it’s important to note that this doesn’t negate the potential for a recovery. While potential lower targets are $2900 and $2850 levels, we remain optimistic about Ethereum’s price movement.

The post Ethereum price climbs to EMA200 moving average and $3000 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

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...