Ethereum are trading at the level of 2435.39 and continue to move as part of the growth and the formation of the “Head and Shoulders” reversal pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $284,870,171,538. Moving averages indicate a short-term bullish trend for Ethereum. Prices went up from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the asset’s price growth from the current levels. At the moment, we should expect an attempt to develop the growth in the value of the coin and test the resistance level near the area of 2485.05. Where can we expect a rebound again and the continuation of the fall in the Ethereum rate with a potential target below the level of 1925.00.
Ethereum Forecast and ETH/USD Analysis April 27, 2021
An additional signal in favor of falling ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the Head and Shoulders reversal pattern. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 2705.05. This will indicate a breakdown of the resistance area and a continued rise in the ETH/USD quotes above the level of 3205.05. With the breakdown of the support area and closing of quotations below the level of 2025.05, we should expect confirmation of the development of the downward movement in Ethereum and the beginning of the development of the “Head and Shoulders” reversal pattern.
Ethereum Forecast and ETH/USD Analysis April 27, 2021 implies an attempt to correct and test the resistance area near the level of 2485.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area above the level of 1925.00. An additional signal in favor of a decline in Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the area of 2705.05. This will indicate continued growth of the digital currency with a potential target above the level of 3205.05.
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