Ethereum are trading at 4172 and continue to move within the fall and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $490,749,781,161. Moving averages indicate a short-term bearish 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 4425 area. Where can we expect a rebound down again and a continued fall in the Ethereum rate with a potential target below 3565.
Ethereum Forecast and Analysis November 19, 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 upper border of the descending channel. Cancellation of the option to reduce the cryptocurrency will be a strong growth and a breakdown of the level of 4705. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 5305. With the breakdown of the support area and closing of quotations below the level of 4005, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and Analysis November 19, 2021 suggests an attempt to correct and test the resistance area near the level of 4425. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 3565. 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 4705 area. This will indicate continued growth of the digital currency with a potential target above the level of 5305.
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