Ethereum ETH/USD ends the trading week at 4310 and continues to move within the rally and bullish channel. 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 a test of the support level near the 3755 area. Where can we again expect a rebound and a continued rise in the rate and value of Ethereum with a potential target above the level of 5405.
Cryptocurrency Ethereum Forecast November 1 — 5, 2021
An additional signal in favor of raising the ETH/USD quotes in the current trading week November 1 — 5, 2021 will be a test of the trend line on the relative strength index (RSI), now the values of the RSI indicator are testing the resistance line, which may trigger a drop in the Ethereum rate in the near future. The second signal will be a rebound from the lower border of the bullish channel. 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 2955. 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 2405. Confirmation of the rise in the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 4595.
Cryptocurrency Ethereum Forecast November 1 — 5, 2021 assumes an attempt to decline and test the support area near the level of 3755. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 5405. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line at relative strength indicator. Cancellation of the growth option will be a fall and a breakdown of the area of 2955. In this case, we should expect a continuation of the decline with a target below the area of 2405.
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