ETH/USD are trading at 3181 and continue to move as part of the development of a strong fall and a downward channel. Moving averages indicate a short-term bearish trend for Ether. Prices have broken through the area between the signal lines downwards, 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 bullish correction in the value of the coin and a test of the resistance level near the 3215 area. From where we can again expect a downward rebound in prices and a continuation of the fall in the Ethereum rate with a potential target below the level of 2815.
Ethereum Forecast and Analysis for July 26, 2024
An additional signal in favor of a decrease in ETH/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the option to reduce the cryptocurrency will be a strong increase in the value of Ethereum and a breakdown of the level of 3405. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes to the level of 3775. With a breakdown of the support area and closing of quotes below the level of 3070.
Ethereum Forecast and Analysis for July 26, 2024 assumes an attempt at correction and a test of the support area near the level of 3215. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 2815. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the indicator relative strength. Cancellation of the option to raise the digital currency will be a breakdown of the area of 3405. This will indicate a continued decline in the digital currency with a potential target below the level of 3775.
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