Ethereum are trading at the level of 1799.32 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 $206,695,988,857. Moving averages indicate a short-term bearish trend for Ethereum. Prices are testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the asset value 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 1750.05. Where can we expect a rebound again and continued growth of the Ethereum rate with a potential target above the level of 2025.05.
Ethereum Forecast and ETH/USD Analysis March 23, 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 ”Triangle” pattern. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 1685.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1475.05. With the breakdown of the resistance area and closing of quotations above the level of 1905.05, we should expect confirmation of the development of the upward movement in Ethereum and the beginning of the development of the ”Triangle” model.
Ethereum Forecast and ETH/USD Analysis March 23, 2021 implies an attempt to correct and test the support area near the level of 1750.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 2025.05. 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 1685.05 area. This will indicate a continued fall in the digital currency with a potential target below the level of 1475.05.
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