Ethereum are trading at 45222 and continue to move within the growth and bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $540,452,401,073. 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 small correction in the value of the coin and a test of the support level near the 4445 area. Where can we expect an upward rebound and continued growth in the Ethereum rate with a potential target above 5055.
Ethereum Forecast and Analysis November 5, 2021
An additional signal in favor of the growth of ETH/USD quotes will be a test of the support 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 cryptocurrency growth option will be a fall and a breakdown of the level of 4155. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 3705. With the breakdown of the resistance area and closing of quotes above the level of 4795, we should expect confirmation of the development of a bullish movement in Ethereum.
Ethereum Forecast and Analysis November 5, 2021 suggests an attempt to correct and test the support area near the level of 4445. Where can we expect a rebound and the continuation of the rise of the ETH/USD cryptocurrency to the area above the level of 5055. An additional signal in favor of the growth of Ethereum will be a line test trend on the relative strength index (RSI). Cancellation of the option to raise the digital currency will be a breakdown of the 4155 area. This will indicate a continued fall in the digital currency with a potential target below the level of 3705.
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