Ethereum are traded at 1538 and continue to move within the correction and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $183,739,421,683. Moving averages indicate a short-term bullish trend for Ethereum. Prices are again testing the area between the signal lines, 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 at a bullish correction in the value of the coin and a test of the resistance level near the area of 1625.05. 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 965.05.
Ethereum Forecast and ETH/USD Analysis February 24, 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 lower border of the ascending channel. Cancellation of the option to reduce the cryptocurrency will be a strong growth and a breakdown of the level of 1875.00. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2095.00. With the breakdown of the support area and closing of quotations below the level of 1365.00, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis February 24, 2021 implies an attempt to correct and test the resistance area near the level of 1625.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 965.05. An additional signal in favor of reducing 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 1875.00. This will indicate a continued rise with a potential target above the level of 2095.00.
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