Ethereum are trading at 2529 and continue to move as part of the fall and the formation of the “Triangle” pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $303,422,095,507. Moving averages indicate a short-term bearish trend for Ethereum. Prices have gone down from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a rise in the value of the coin and a test of the resistance level near the area of 2715. From where we should again expect a rebound down and a continuation of the fall in the Ethereum rate with a potential target below 1765.
Ethereum Forecast and Analysis March 16, 2022
An additional signal in favor of falling 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 “Triangle” model. Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the level of 3025. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 3535. With a breakdown of the support area and closing of quotes below the level 2205 we should expect confirmation of the development of a downward movement in Ethereum and the start of testing the “Triangle” model.
Ethereum Forecast and Analysis March 16, 2022 suggests an attempt to correct and test the resistance area near the level of 2715. Where should we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1765. An additional signal in favor of Ethereum decline will be a test of the trend line on the relative strength indicator. Cancellation of the option of falling digital currency will be a breakdown of the area of 3025. Which will indicate a continued rise in the digital currency with a potential target above the level of 3535.
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