Lokesh Gupta
18-05-2024
#Ethereum found support around $2,850 before surpassing the $3,000 resistance level.
A recent correction extended the consolidation phase observed on the weekly chart, with price fluctuations occurring within the 50% to 61.80% Fibonacci levels.
Currently, $ETH is encountering resistance from both the 50- and 100-day Exponential Moving Averages (EMA).
#Ethereum surged by 5% on Friday following responses from co-founder Vitalik Buterin to recent criticisms in the crypto community.
Yesterday, $ETH attempted to breach the upper channel but failed, leading to a subsequent decline in price.
According to Coingabbar Prediction, A breakthrough above the $3,200 barrier could propel Ethereum out of its bearish channel, potentially signaling an upward trend.
However, failure to breach the channel might result in consolidation or a retracement towards the $3,000 mark, with potential support around $2,850.
KEY LEVELS :
RESISTANCE LEVEL : $3,200-$3,300
SUPPORT LEVEL : $3,040-$2,940
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Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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