Ethereum are trading at 1674.83 and continue to move as part of the correction and the formation of the ”Wedge” reversal pattern. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $197,321,218,270. Moving averages indicate the presence of a short-term bullish trend in Ethereum. Prices broke the area between the signal lines upwards , which indicates pressure from buyers and a potential continued growth in the value of the asset already 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 1725.05 area. below the level of 1035.05.
Ethereum Forecast and ETH/USD Analysis March 9, 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 upper border of the Wedge reversal pattern. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 1785.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2075.05. With the breakdown of the support area and closing of quotations below the level of 1205.05, we should expect confirmation of the development of the downward movement in Ethereum and the start of working out the ”Wedge” reversal pattern.
Ethereum Forecast and ETH/USD Analysis March 9, 2021 imply an attempt to correct and test the resistance area near the level of 1725.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1035.05. 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 1785.05. This will indicate a continued rise in the digital currency with a potential target above the level of 2075.05.
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