Ethereum are traded at 1995.65 and continue to move as part of the correction and the formation of the “Triangle” pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $235,817,932,093. Moving averages indicate a short-term bearish trend for Ethereum. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the rise in the asset value from the current levels. At the moment, we should expect an attempt to develop the growth of the coin’s value and test the resistance level near the area of 2035.05. 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 1265.00.
Ethereum Forecast and ETH/USD Analysis July 23, 2021
An additional signal in favor of reducing 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 upper border of the “Triangle” pattern. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 2325.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2705.05. With the breakdown of the support area and closing of quotations below the level of 1405.05, we should expect confirmation of the development of the downward movement in Ethereum and the beginning of the development of the “Triangle” model.
Ethereum Forecast and ETH/USD Analysis July 23, 2021 imply an attempt to correct and test the resistance area near the level of 2035.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1265.00. 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 2325.05. This will indicate continued growth in the digital currency with a potential target above the level of 2705.05.
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