Ethereum are traded at the level of 2990.17 and continue to move as part of the correction and the bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $350,447,020,638. Moving averages indicate a short-term bullish trend for Ethereum. However, the area between the signal lines is being pushed around again, 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 a decrease in the value of the coin and a test of the support level near the area of 2665.05. Where can we expect a rebound again and continued growth of the Ethereum rate with a potential target above the level of 3655.05.
Ethereum Forecast and ETH/USD Analysis August 20, 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 2205.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1825.05. With the breakdown of the resistance area and closing of quotations above the level of 3435.05, we should expect confirmation of the development of the bullish movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis August 20, 2021 implies an attempt to correct and test the support area near the level of 2665.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 3655.05. 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 digital currency growth option will be a breakdown of the 2205.05 area. This will indicate a continued fall in the digital currency with a potential target below the level of 1825.05.
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