Ethereum are trading at 3124 and continue to move as part of the growth and the bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $367,077,750,715. Moving averages indicate a short-term bearish trend for Ethereum. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continued growth in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the coin and a test of the support level near the area of 2985. From where we should again expect a rebound upwards and a continuation of the rise in the Ethereum rate with a potential target above 3455.
Ethereum Forecast and Analysis February 17, 2022
An additional signal in favor of the rise in ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel, which was broken up. Cancellation of the cryptocurrency rise option will be a fall and a breakdown of the level of 2825. This will indicate a breakdown of the support area and a continuation of the fall of ETH/USD quotes below the level of 2405. With the breakdown of the resistance area and the closing of quotes above the level of 3305, we should expect confirmation of the development of a bullish movement in Ethereum and the start of the model development “Head and shoulders”.
Ethereum Forecast and Analysis February 17, 2022 suggests an attempt to correct and test the support area near the level of 2985. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 3455. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the digital currency growth option will be a breakdown of the 2825 area, which will indicate a continued fall of the digital currency with a potential target below the level of 2405.
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