Ethereum are trading at 4554 and continue to move as part of the growth and the bullish channel, prices approached the upper border of this channel. In the event of a breakdown, you can postpone the height up and expect a rise at least to the channel height. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $527,685,008,034. Moving averages indicate a short-term bullish trend for Ethereum. Prices went up from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the rise in the value of the asset from the current levels. At the moment, we should expect an attempt to develop a small correction in the value of the coin and a test of the support level near the 4305 area. Where again should we expect a rebound and continued growth in the Ethereum rate with a potential target above 5085.
Ethereum Forecast and ETH/USD Analysis November 4, 2021
An additional signal in favor of the growth of ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 3905. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below 3545. With the breakdown of the resistance area and closing of quotations above the level of 4785, we should expect confirmation of the development of a bullish movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis November 4, 2021 suggests an attempt to correct and test the support area near the level of 4305. Where can we expect a rebound and the continuation of the rise of the ETH/USD cryptocurrency to the area above the level of 5085. An additional signal in favor of the growth of Ethereum will be a test of the line trend on the relative strength index (RSI). Cancellation of the option to raise the digital currency will be a breakdown of the 3905 area. This will indicate a continued fall in the digital currency with a potential target below the level of 3545.
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