Financial forecast: Ethereum, Bitcoin, Oil, and Gold - Expectations
Ethereum Price Update - August 2, 2024
Ethereum (ETHUSD) has shown significant downward momentum, confirming a break below the $3,132.80 level. This opens the path for further declines on an intraday basis, with a target of $2,905.30 as the next key level. The bearish trend remains intact as long as the price stays below $3,132.80, Economies says.
Bitcoin Price Update - August 2, 2024
Bitcoin (BTCUSD) has fallen below the $63,657.20 mark, closing the last four-hour candle under this level. Stochastic indicators suggest further bearish pressure, with the next target set at $61,684.05. The continuation of this decline hinges on maintaining a position below $63,657.20.
Crude Oil Price Update - August 2, 2024
Crude oil continues to face heavy losses, breaking below $75.48 and surpassing the negative target of $74.20. This decline paves the way for a move towards the recent low of $72.64. Further declines are anticipated unless oil prices manage to breach and hold above $75.48.
Gold Price Update - August 2, 2024
Gold has sharply declined to test the critical support level at $2,420.00, where it found strong support. This area is expected to prevent further losses and potentially lead to a rebound, targeting $2,483.40 and then $2,500.00. However, if the price breaks below $2,420.00, it could lead to extended losses down to $2,380.00.
Ethereum (ETHUSD) has shown significant downward momentum, confirming a break below the $3,132.80 level. This opens the path for further declines on an intraday basis, with a target of $2,905.30 as the next key level. The bearish trend remains intact as long as the price stays below $3,132.80, Economies says.
Bitcoin Price Update - August 2, 2024
Bitcoin (BTCUSD) has fallen below the $63,657.20 mark, closing the last four-hour candle under this level. Stochastic indicators suggest further bearish pressure, with the next target set at $61,684.05. The continuation of this decline hinges on maintaining a position below $63,657.20.
Crude Oil Price Update - August 2, 2024
Crude oil continues to face heavy losses, breaking below $75.48 and surpassing the negative target of $74.20. This decline paves the way for a move towards the recent low of $72.64. Further declines are anticipated unless oil prices manage to breach and hold above $75.48.
Gold Price Update - August 2, 2024
Gold has sharply declined to test the critical support level at $2,420.00, where it found strong support. This area is expected to prevent further losses and potentially lead to a rebound, targeting $2,483.40 and then $2,500.00. However, if the price breaks below $2,420.00, it could lead to extended losses down to $2,380.00.
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