Ethereum ETH/USD ends the trading week at the level of 3076 and continues to move as part of the fall and the completion of the formation of the Double Top reversal pattern. Moving averages indicate a bullish trend for ETH/USD. Prices have broken through the area between the signal lines downwards, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall from current levels. At the moment, we can expect an attempt to develop a price rise and a test of the resistance level near the 3245 area. From where we can again expect a downward rebound and a continuation of the fall in the rate and value of Ethereum with a potential target below the level of 1965.
Ethereum Forecast and Analysis July 15 — 19, 2024
An additional signal in favor of a decrease in ETH/USD quotes in the current trading week of July 15 — 19, 2024 will be a test of the support line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to reduce the value of the cryptocurrency in the current trading week will be a strong growth and a breakdown of the level of 3665. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 4235. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 2675.
Ethereum Forecast and Analysis July 15 — 19, 2024 assumes an attempt to develop a bullish correction and test the resistance area near the level of 3245. Where can we expect a rebound downwards and a continuation of the fall of the cryptocurrency to the area below the level of 1965. An additional signal in favor of a decline in the Ethereum rate will be a test of the line trend on the relative strength indicator. Cancellation of the fall option will be a strong growth and a breakdown of the area of 3665. In this case, we should expect a continuation of the rise with a target above the area of 4235.
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