ETH/USD are trading at 2631 and continue to move within the framework of the growth development and have left the boundaries of the descending channel. Moving averages indicate the presence of a short-term downward trend in Ethereum. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continued growth in the asset value from current levels. At the moment, we should expect an attempt to develop a bearish correction in the coin value and a test of the support level near the 2515 area. From where we should again expect an upward price rebound and continued growth in the Ethereum rate with a potential target above the 3085 level.
Ethereum Forecast and Analysis for October 15, 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 upper boundary of the descending channel, which was broken upwards by buyers. The cancellation of the cryptocurrency growth option will be a drop in the Ethereum value and a breakout of the 2265 level. This will indicate a breakout of the support area and a continuation of the fall in ETH/USD quotes to the 1965 level. With a breakout of the resistance area and closing of quotes above the 3055 mark.
Ethereum Forecast and Analysis for October 15, 2024 suggests an attempt at correction and a test of the support area near the 2515 level. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the 3085 level. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. The cancellation of the digital currency growth option will be a breakout of the 2265 area. Which will indicate a continuation of the fall of the digital currency with a potential target below the 1965 level.
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