Ethereum ETH/USD ends the trading week at 3232.67 and continues to move as part of the rise and development of the Wedge reversal pattern. Moving averages indicate a bullish trend for ETH/USD. Prices went up from the area between the signal lines, which indicates pressure from cryptocurrency buyers and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a price correction and test the support level near the 2755.05 area. Where can we expect a rebound again and a continuation of the rise in the rate and value of Ethereum with a potential target above the level of 4095.05.
Cryptocurrency Ethereum Forecast August 16 — 20, 2021
An additional signal in favor of raising the ETH/USD quotes in the current trading week August 16 — 20, 2021 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Wedge reversal pattern. Cancellation of the growth option for the cryptocurrency value in the current trading week will be a fall and a breakdown of the level of 1445.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes with a potential target below the level of 855.05. Confirmation of the rise in the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 3505.05.
Cryptocurrency Ethereum Forecast August 16 — 20, 2021 implies an attempt to test the support area near the level of 2755.05. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 4095.05. An additional signal in favor of a rise in the Ethereum rate will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 1445.05 area. In this case, we should expect a continuation of the decline with a target below the area of 855.05.
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