Ethereum are trading at 3064 and continue to move as part of growth and have left the limits of the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $369,215,658,364. Moving averages indicate a short-term bearish trend for Ethereum. Prices have gone down from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall 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 2765. From where we should again expect a rebound upwards and a continuation of the rise in the Ethereum rate with a potential target above 4025.
Ethereum Forecast and Analysis February 8, 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 descending channel. Cancellation of the cryptocurrency rise option will be a fall and a breakdown of the level of 2275. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1725. With the breakdown of the resistance area and closing of quotes above the level of 3245, we should expect confirmation of the development of a bullish movement in Ethereum.
Ethereum Forecast and Analysis February 8, 2022 suggests an attempt to correct and test the support area near the level of 2765. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 4025. 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 growth option for the digital currency will be a breakdown of the 2275 area, which will indicate the continued fall of the digital currency with a potential target below the level of 1725.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
