ETH/USD are trading at 3487 and continue to move as part of the growth development and bearish channel. Moving averages indicate a short-term downward trend for Ethereum. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset from current levels. At the moment, we can expect an attempt to develop a bearish correction in the value of the coin and a test of the support level near the 3265 area. From where we can again expect a rebound in prices and continued growth in the Ethereum rate with a potential target above the level of 3875.
Ethereum Forecast and Analysis for July 2, 2024
An additional signal in favor of growth 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 upward by buyers. Cancellation of the cryptocurrency growth option will be a fall in the value of Ethereum and a breakdown of the level of 3845. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes to the level of 4265. With a breakdown of the resistance area and closing quotes above 3645, which will indicate a breakdown of the upper boundary of the downward channel corrections.
Ethereum Forecast and Analysis for July 2, 2024 suggests an attempt at correction and a test of the support area near the level of 3265. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 3875. 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 area of 3845. This will indicate a continued fall of the digital currency with a potential target below the level of 4265.
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