Ethereum ETH/USD ends the trading week at 2524 and continues to move within the correction and bearish channel. Moving averages indicate a bullish 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 2935 area. From where we should again expect a rebound downwards and a continuation of the fall in the rate and cost of Ethereum with a potential target below the level of 1645.
Ethereum Forecast and Analysis September 2 — 6, 2024
An additional signal in favor of a fall in ETH/USD quotes in the current trading week of September 2 — 6, 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 option of a fall in the value of the cryptocurrency in the current trading week will be a strong growth and a breakout of the level of 3285. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 3965. Confirmation of the fall of the Ethereum cryptocurrency will be a breakout of the support area and closing of quotes below the level of 2035, which will indicate a breakout of the lower border of the bullish channel.
Ethereum Forecast and Analysis September 2 — 6, 2024 suggests an attempt to develop a bearish correction and test the resistance area near the level of 2935. Where we should expect a downward rebound and a continuation of the fall of the cryptocurrency to the area below the level of 1645. An additional signal in favor of a decrease 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 3285 area. In this case, we should expect a continuation of the rise with a target above the 3965 area.
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