Ethereum ETH/USD ends the trading week at 2357 and continues to move within the development of a bullish correction and a bearish channel. Moving averages indicate a bearish trend for ETH/USD. Prices have broken through the area between the signal lines downwards, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop price growth and a test of the resistance level near the 2405 area. From where we should again expect a downward rebound and a continuation of the fall in the rate and value of Ethereum with a potential target below the level of 1465.
Ethereum Forecast and Analysis September 16 — 20, 2024
An additional signal in favor of a fall in ETH/USD quotes in the current trading week of September 16 — 20, 2024 will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper border of the bearish channel. The cancellation of the fall in the cryptocurrency price during the current trading week will be a strong growth and a breakout of the 2935 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes with a potential target above the 3645 level. The fall of the Ethereum cryptocurrency will be confirmed by a breakout of the support area and closing of quotes below the 1965 level.
Ethereum Forecast and Analysis September 16 — 20, 2024 suggests an attempt to develop a bearish correction and test the resistance area near the 2405 level. From where we should expect a downward rebound and continued fall of the cryptocurrency to the area below the 1465 level. An additional signal in favor of a decline in the Ethereum rate will be a test of the trend line on the relative strength indicator. The cancellation of the fall option will be a strong growth and a breakout of the 2935 area. In this case, we should expect continued growth with a target above the 3645 area.
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