Ethereum are trading at the level of 2796.01 and continue to move as part of the correction and the formation of the “Head and Shoulders” reversal pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $ 331,393,235,125. Moving averages indicate a short-term bearish trend for Ethereum. Prices are testing the area of the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from the current levels. At the moment, we should expect an attempt to develop a decrease in the value of the coin and a test of the support level near the area of 2145.05. Where can we expect a rebound again and a continuation of the rise in the Ethereum rate with a potential target above the level of 3875.05.
Ethereum Forecast and ETH/USD Analysis May 28, 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 upper border of the descending channel. Cancellation of the option of raising the cryptocurrency will be a fall and a breakdown of the level of 1645.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1145.05. With the breakdown of the resistance area and closing of quotations above the level of 3105.05, we should expect confirmation of the development of a bullish movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis May 28, 2021 implies an attempt to correct and test the support area near the level of 2145.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 3875.05. An additional signal in favor of the rise of Ethereum 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 1645.05 area. This will indicate a continued fall in the digital currency with a potential target below the level of 1145.05.
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