Ethereum ETH/USD ends the trading week at 3436 and continues to move within the growth and bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices have broken through the area between the signal lines upward, which indicates pressure from cryptocurrency buyers and a potential continuation of growth from current levels. At the moment, we can expect an attempt to develop a price decline and a test of the support level near the 2845 area. From where we can again expect a rebound upward and continued growth in the rate and value of Ethereum with a potential target above the level of 4475.
Ethereum Forecast and Analysis July 22 — 26, 2024
An additional signal in favor of a decrease in ETH/USD quotes in the current trading week of July 22 — 26, 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 2705. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 2245. 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 22 — 26, 2024 assumes an attempt to develop a bearish correction and test the support area near the level of 2845. Where can we expect a rebound upward and continued growth of the cryptocurrency to the area above the level of 4475. An additional signal in favor of an increase in the Ethereum rate will be a test of the line trend on the relative strength indicator. Cancellation of the growth option will be a fall and a breakdown of the area of 2705. In this case, we should expect a continuation of the decline with a target below the area of 2245.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
