Ethereum are trading at 4139 and continue to move as part of the fall and the downtrend channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $507,594,094,034. Moving averages indicate a short-term bearish trend for Ethereum. Prices went 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 the current levels. At the moment, we should expect an attempt to develop a correction in the value of the coin and test the resistance level near the 4285 area. Where can we expect a rebound down again and a continuation of the Ethereum rate fall with a potential target below 3585.
Ethereum Forecast and Analysis November 24, 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 4565. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 5055. With the breakdown of the support area and closing of quotations below the level of 3905, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and Analysis November 24, 2021 suggests an attempt to correct and test the resistance area near the level of 4285. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 3585. An additional signal in favor of reducing Ethereum will be a line test trend on the relative strength index (RSI). Cancellation of the option for a fall in the digital currency will be a breakdown of the 4565 area. This will indicate continued growth in the digital currency with a potential target above the level of 5055.
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