11.10.202406:50 Forex Analysis & Reviews: Technical Analysis of Intraday Price Movement of Ethereum Cryptocurrency, Friday October 11, 2024.

Relevance up to 23:00 2024-10-11 UTC--4

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Although on the 4-hour chart the Ethereum cryptocurrency is weakening which is confirmed by the occurrence of a Death Cross between the EMA 50 which is below the EMA 200, but the appearance of the Failing Wedge pattern gives us a clue that in the near future #ETH has the potential to strengthen up to the level of 2520.57 but as long as the strengthening does not continue to broken and close above the level of 2634.73 then it is only a momentary correction and Ethereum still has the potential to continue its weakening to the level of 2323.73 as its main goal and if the momentum and volatility support it then Ethereum will continue its weakening back to the level of 1930.06.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

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