Ethereum ETH/USD ends the trading week at 2915.52 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 area of 2405.05. 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 3805.05.
Cryptocurrency Ethereum Forecast August 9 — 13, 2021
An additional signal in favor of raising the ETH/USD quotes in the current trading week August 9 — 13, 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 value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 1405.05. 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 905.05. Confirmation of the rise in the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 3155.05.
Cryptocurrency Ethereum Forecast August 9 — 13, 2021 implies an attempt to test the support area near the level of 2405.05. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 3805.05. 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 the fall and the breakdown of the 1405.05 area. In this case, we should expect a continuation of the decline with a target below the area of 905.05.
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