ETH/USD are trading at 3373 and continue to move within the framework of the growth and bullish channel development. 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 potential continued growth in the asset’s value from current levels. At the moment, we should expect an attempt to develop a bearish correction in the coin’s value and a test of the support level near the 3175 area. From where we should again expect an upward price rebound and continued growth in the Ethereum rate with a potential target above the 4010 level.
Ethereum Forecast and Analysis for July 30, 2024
An additional signal in favor of growth in ETH/USD quotes will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the cryptocurrency rise option will be a fall in the Ethereum price and a breakout of the 3005 level. This will indicate a breakout of the support area and a continuation of the fall of ETH/USD quotes to the 2535 level. With a breakout of the resistance area and closing of quotes above the 3625 mark.
Ethereum Forecast and Analysis for July 30, 2024 suggests an attempt at correction and a test of the support area near the 3175 level. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the 4010 level. An additional signal in favor of Ethereum growth will be a test of the trend line on the relative strength indicator. The cancellation of the digital currency rise option will be a breakout of the 3005 area. Which will indicate a continuation of the decline of the digital currency with a potential target below the 2535 level.
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