Ethereum are trading at 4296 and continue to move as part of the fall and left the bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $ 506,122,477,354. Moving averages indicate a short-term bullish trend for Ethereum. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the rise in the asset value from the 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 4645 area. Where can we expect a rebound down again and a continuation of the Ethereum rate fall with a potential target below 3485.
Ethereum Forecast and Analysis November 17, 2021
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 lower border of the bullish channel. Cancellation of the option to reduce the cryptocurrency will be a strong growth and a breakdown of the level of 5025. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 5455. With the breakdown of the support area and closing of quotations below the level of 4055, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and Analysis November 17, 2021 suggests an attempt to correct and test the resistance area near the level of 4645. Where can we expect a rebound and the continuation of the fall in the ETH/USD cryptocurrency to the area below the level of 3485. An additional signal in favor of reducing Ethereum will be a line test trend on the relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the area of 5025. This will indicate continued growth of the digital currency with a potential target above the level of 5455.
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