Ethereum are trading at 3099.88 and continue to move within the correction and the bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $364,444,939,961. Moving averages indicate a short-term bullish trend for Ethereum. However, prices broke through the area between the signal lines downward, which indicates pressure from sellers and a potential continuation of the fall in the asset value already from current levels. At the moment, we should expect an attempt to develop a decrease in the value of the coin and a test of the support level near the area of 3025.05. Where can we expect a rebound again and continued growth of the Ethereum rate with a potential target above the level of 3545.05.
Ethereum Forecast and ETH/USD Analysis August 19, 2021
An additional signal in favor of the growth of 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 lower border of the bullish channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 2865.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 2405.05. With the breakdown of the resistance area and closing of quotations above the level of 3205.05, we should expect confirmation of the development of the bullish movement in Ethereum and the start of the ”Wedge” model.
Ethereum Forecast and ETH/USD Analysis August 19, 2021 implies an attempt to correct and test the support area near the level of 3025.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 3545.05. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for the digital currency will be a breakdown of the 2865.05 area. This will indicate a continued fall in the digital currency with a potential target below the level of 2405.05.
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