Ethereum

Momentum

Wall Street Memes

Resistance

Gains

<div class="insidebitcoins">
 <p>In an endeavor to regain momentum, the price of Ethereum is currently in the process of a recovery phase, striving to move past the $1,835 mark against the US Dollar. The potential for consistent upward movement becomes viable if it successfully overcomes the hurdle presented by the $1,860 resistance level.</p>
 <p>Ethereum’s valuation remains confined below the resistance thresholds of $1,860 and $1,880 within its trading range. Moreover, it trades below the $1,850 mark and the 100-hourly Simple Moving Average. According to Kraken’s data feed, the hourly chart for ETH shows a breach of the short-term ascending channel that had found support around $1,845.</p>
 <p>The outcome of the ETH pairing’s trajectory depends on its ability to breach the $1,860 resistance level. Failure to do so could lead to a potential downturn once again.</p>
 <h2 id="ethereum-price-turns-red">Ethereum Price Turns Red</h2>
 <p>Ethereum faced difficulties in surpassing the resistance area at $1,860, resulting in a new downward movement. The price of ETH established itself beneath the $1,850 mark, entering a bearish territory reminiscent of Bitcoin’s performance.</p>
 <p>On the hourly chart of ETH, a breach occurred below a brief ascending channel, which had support of around $1,845. This caused the pair to test the $1,830 range, forming a bottom around $1,833. The price is striving for a rebound, experiencing a recovery attempt that led it to move past the $1,840 threshold.</p>
 <p>The price went up more than a quarter of the way back from its recent drop, between the highest point of around $1,860 and the lowest point of about $1,833. But now, Ethereum’s price is lower than $1,850, and the line on the chart shows the average price over the past 100 hours.</p>
 <p>Looking on the positive side, there’s a hurdle close to the $1,850 mark. This is roughly halfway between the highest at around $1,860 and the lowest at about $1,833. The main barrier comes at the first important point, around $1,860. After that, the next significant challenge awaits near $1,880.</p>
 <p>If the price surpasses the $1,880 level, it could pave the way for a movement towards the $1,920 mark. Further value increases could propel the price even higher, possibly crossing the significant barrier at $2,000. If this milestone is achieved, there’s potential for an upward trajectory toward the $2,040 threshold, potentially even reaching the $2,120 level.</p>
 <figure id="attachment_435784" aria-describedby="caption-attachment-435784" style="width: 100%" class="wp-caption alignnone"><img decoding="async" class="size-full wp-image-435784" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201024%20468'%3E%3C/svg%3E" alt="" width="1024" height="468" data-lazy-srcset="https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp 1024w, https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp 300w, https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp 768w" data-lazy-sizes="(max-width: 1024px) 100vw, 1024px" data-lazy-src="https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp">
  <noscript><img decoding="async" class="size-full wp-image-435784" src="https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp" alt="" width="1024" height="468" srcset="https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp 1024w, https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp 300w, https://cdn.thebittimes.com/images/2024/05/02/0f7ce147034bc9a2c5216966ede02d2f.webp 768w" sizes="(max-width: 1024px) 100vw, 1024px">
  </noscript>
  <figcaption id="caption-attachment-435784" class="wp-caption-text">
   Source: Tradingview
  </figcaption>
 </figure>
 <h2 id="more-losses-in-eth">More Losses in ETH?</h2>
 <p>It might keep going down if Ethereum can’t get past the $1,860 barrier. At first, if it goes down, there’s support around $1,835 or the recent low point. Below that, a major support area is around $1,820. If buyers can’t prevent it from dropping below $1,820, the price might fall. The next big support comes in at around $1,780. If there are even more losses, the price could head towards $1,720 in the near future.</p>
 <h2 id="technical-indicators">Technical Indicators</h2>
 <ul>
  <li>Hourly MACD – The bearish momentum of the MACD on the ETH/USD chart is diminishing.</li>
  <li>Hourly RSI – The RSI on the ETH/USD chart has dropped below the 50 mark.</li>
  <li>Key Support Level – Significant support is situated at $1,820.</li>
  <li>Key Resistance Level – The notable resistance can be identified at $1,860.</li>
 </ul>
 <h2 id="alternative-to-ethereum-eth">Alternative to Ethereum (ETH)</h2>
 <p>The Wall Street Memes token presale is on fire, amassing an impressive $24.26 million in investments. With such momentum, it’s poised to become the next standout cryptocurrency, leaving no room for doubt about its potential success.</p>
 <h2 id="wsm-saga-unveiled-airdrop-thrills-and-the-evolution-of-financial-innovation">WSM Saga Unveiled: Airdrop Thrills and the Evolution of Financial Innovation</h2>
 <p>To ignite enthusiasm for the presale and encourage greater participation, a thrilling “airdrop” initiative is underway. It entails a generous distribution of WSM tokens valued at $50,000, with five fortunate winners set to receive $10,000 each in WSM tokens.</p>
 <p>To partake in this exciting opportunity, follow WSM on Twitter, explore their Instagram and website, engage in their Discord and Telegram communities, and showcase your WSM token ownership. Hurry, as there are only 109 days left to join in on the excitement.</p>
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
  <p lang="en" dir="ltr">Anyone else or just me? pic.twitter.com/ED5ojBIeDI</p>
  <p>— Wall Street Memes (@wallstmemes) August 13, 2023</p>
 </blockquote>
 <p></p>
 <p>Occasionally, a question arises about the value of investing in WSM, prompting the need for constant reassurance. This inquiry serves as a vibrant reminder to the market of the project’s captivating journey. By merging blockchain technology with the vibrant world of meme culture, WSM aspires to redefine the financial landscape, promising innovation and excitement.</p>
 <p>Wall Street Memes harness the power of humor to empower investors, challenging the conventional finance landscape. By integrating decentralized finance, it reclaims control for the investor, revolutionizing how we engage with financial markets.</p>
 <p>WSM strategically allocates its token supply for growth, dedicating 5% to marketing and enlisting influencers’ support while prioritizing community loyalty with 3% in rewards. As trading begins, 10% will be allocated to centralized and decentralized exchanges, ensuring a robust ecosystem.</p>
 <p>The project’s team follows a meticulous three-stage roadmap to ensure long-term success.</p>
 <p>Their initial focus is on laying a solid foundation, encompassing creating a robust community, smart contract development, and strategic marketing and branding efforts. This proactive approach aims to foster community engagement and amplify awareness of their initiative.</p>
 <p></p>
 <div class="rll-youtube-player" data-src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/Pyt9_Fvqy4A" data-id="Pyt9_Fvqy4A" data-query="feature=oembed" data-alt="🚀 Wall Street Memes EXPLODE! Stage 28/30 Sells Out in Mere Hours!  The Hottest Presale of 2023! 📈🔥"></div>
 <noscript><iframe title="🚀 Wall Street Memes EXPLODE! Stage 28/30 Sells Out in Mere Hours!  The Hottest Presale of 2023! 📈🔥" width="640" height="360" src="https://thebittimes.com/image/getimage/?url=https://www.youtube.com/embed/Pyt9_Fvqy4A?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
 </noscript>
 <p></p>
 <p>WSM officially takes flight during the second phase, marking its launch day. The team’s primary focus shifts to forging essential partnerships and expanding its presence through engaging content platforms, meme creators, and influential figures. In tandem with listing the token on exchanges, this phase amplifies WSM’s presence through strategic campaigns.</p>
 <p>In the last phase, community engagement takes center stage, yielding valuable benefits for the local populace. The ultimate goal remains to attain a billion-dollar market cap and secure a prominent listing on leading exchanges.</p>
 <h3 id="also-read">Also Read:</h3>
 <ul>
  <li>Ethereum’s Future: Will We Witness 40% ETH Price Fall?</li>
  <li>Presale Of Chimpzee, A Web3 Charity-centric Project, Gains Momentum With Enticing Airdrop Offer – Fundraising Hits $1.1 Million.</li>
 </ul>
 <p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/analyzing-ethereum-s-price-recovery-struggles-and-potential-amidst-key-levels-tbt87216.html">https://thebittimes.com/analyzing-ethereum-s-price-recovery-struggles-and-potential-amidst-key-levels-tbt87216.html</a></p>
</div>

Analyzing Ethereum’s Price Recovery: Struggles and Potential Amidst Key Levels

Indice dei contenuti

TheBitTimes

Altri articoli pubblicati su 2 mag 2024

Former Binance CEO’s Trial Reveals that Cooperation Pays Off: Report

Spot Bitcoin ETFs reach record $563m outflows

Crypto: Here’s Why 60% of Cardano Holders Are Losing Money!

Dogecoin Price Prediction: Is DOGE History Poised to Repeat?

$XDC Price Prediction – Is The XDC Network A Potential Ethereum Contender?

Crypto Analyst Says Bitcoin Must Hold Above $51,800 As ETF Outflows Trigger Crash

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!