Ethereum are trading at the level of 1328.69 and continue to move as part of the growth and the ascending channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $152,165,047,917. Moving averages indicate a short-term bullish trend for Ethereum. Prices are testing the areas between the signal lines again, which indicates pressure from buyers and a potential rise in the asset value from the current levels. At the moment, we should expect an attempt to correct the value of the coin and test the support level near the area of 1260.05. Where can we expect a rebound and a continuation of the rise in the Ethereum rate with a potential target above the level of 1605.55.
Ethereum Forecast and ETH/USD Analysis February 2, 2021
An additional signal in favor of raising the 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 ascending channel. Cancellation of the option for the growth of cryptocurrency will be a fall and a breakdown of the level of 1155.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 825.05. With the breakdown of the resistance area and closing of quotations above the level of 1475.00, we should expect confirmation of the development of the rise in Ethereum and the beginning of the development of the “Triangle” model.
Ethereum Forecast and ETH/USD Analysis February 2, 2021 implies an attempt to correct and test the support area near the level of 1260.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 1605.55. 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 the breakdown of the 1155.05 area. This will indicate a continued fall with a potential target below the level of 825.05.
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