Ethereum are traded at 1758.38 and continue to move as part of the correction and the ascending channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $204,323,013,374. Moving averages indicate a short-term bullish trend for Ethereum. Prices are testing the area between the signal lines, 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 correction in the value of the coin and a test of the support level near the area of 1705.05. Where can we expect a rebound again and continued growth in the Ethereum rate with a potential target above the level of 2175.05.
Ethereum Forecast and ETH/USD Analysis March 16, 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 ascending channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 1565.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1205.05. With the breakdown of the resistance area and closing of quotations above the level of 1995.05, we should expect confirmation of the development of the upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis March 16, 2021 implies an attempt to correct and test the support area near the level of 1705.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 2175.05. An additional signal in favor of Ethereum support 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 1565.05 area. This will indicate a continued fall in the digital currency with a potential target below the level of 1205.05.
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