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Ethereum price (ETHUSD) forecast update - 07-11-2024

Economies.com
2024-11-07 09:07AM UTC

Ethereum price (ETHUSD) fluctuates around 2823.00$ level that forms solid resistance against the price, and it needs to gather positive momentum that assist to push the price to resume the expected bullish trend for today, which targets 2915.00$ followed by 3040.00$ levels as next main stations.

 

On the other hand, we should note that breaking 2750.00$ will push the price to turn to decline and achieve intraday bearish correction before turning back to rise again.

 

The expected trading range for today is between 2750.00$ support and 2980.00$ resistance.

 

Trend forecast: Bullish

Bitcoin price (BTCUSD) forecast update - 07-11-2024

Economies.com
2024-11-07 09:07AM UTC

Bitcoin price (BTCUSD) shows negative trades to test the breached resistance of the bullish channel that appears on the chart, and the price needs to consolidate above these areas as a first condition to the continuation of the expected bullish trend for the upcoming period, which targets 78000.00$ as a next main station.

 

On the other hand, we should note that breaking 75000.00$ followed by 73820.00$ levels will stop the bullish trend and put the price under the correctional bearish pressure.

 

The expected trading range for today is between 73800.00$ support and 78000.00$ resistance.

 

Trend forecast: Bullish

Brent oil price forecast update 07-11-2024

Economies.com
2024-11-07 09:07AM UTC

Brent oil price shows bearish bias to press on 75.36$ level, which urges caution from the upcoming trading, as the price needs to consolidate above this level as a first condition to the continuation of the bullish trend valid and active for the upcoming period, as breaking it will push the price to turn to decline on the intraday basis to visit 73.90$ mainly, reminding you that the targets of the expected bullish wave for the upcoming period start at 76.84$ and extend to 78.66$ after breaching the previous level.

 

The expected trading range for today is between 74.60$ support and 77.60$ resistance.

 

Trend forecast: Bullish

Crude oil price forecast update 07-11-2024

Economies.com
2024-11-07 09:07AM UTC

Crude oil price faces negative pressure to move below 72.15$ level, which pushes the price to decline in the upcoming sessions and head to visit 70.58$ before any new positive attempt.

 

Therefore, it is important to monitor the price according to 72.15$ level, and it needs to trade above it again to revive the positive scenario that its next main target located at 73.71$.

 

The expected trading range for today is between 71.10$ support and 74.10$ resistance

 

Trend forecast: Bullish