Ethereum are trading at 3345 and continue to move as part of the correction and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $395,078,514,525. Moving averages indicate a short-term bearish trend for Ethereum. Prices have broken through the areas between the signal lines upward, 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 correction in the value of the coin and a test of the resistance level near the area of 3605. Where can we again expect a rebound and a continuation of the fall in the Ethereum rate with a potential target above below 2365.
Ethereum Forecast and ETH/USD Analysis October 5, 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 descending channel. Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the level of 3945. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 4565. With the breakdown of the support area and closing of quotations below the level of 2595, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis October 5, 2021 suggests an attempt to correct and test the resistance area near the level of 3605. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 2365. An additional signal in favor of the fall of Ethereum will be a line test trend on the relative strength index (RSI). Cancellation of the option to reduce the digital currency will be a breakdown of the 3945 area. This will indicate a continued rise in the digital currency with a potential target above the level of 4565.
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