Ethereum are traded at the level of 2912 and continue to move as part of the fall and the beginning of the development of the “Head and Shoulders” reversal pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $345,659,087,232. Moving averages indicate a short-term bullish trend for Ethereum. Prices broke through the areas between the signal lines downward, 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 correction in the value of the coin and a test of the resistance level near the area of 3105. Where can we again expect a rebound and a continuation of the fall in the Ethereum rate with a potential target above below 1805.
Ethereum Forecast and ETH/USD Analysis September 23, 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 lower border of the “Head and Shoulders” reversal pattern. Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the level of 4065. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 5085. With the breakdown of the support area and closing of quotations below the level of 2655, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis September 23, 2021 suggests an attempt to correct and test the resistance area near the level of 3105. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1805. 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 4065 area. This will indicate a continued rise in the digital currency with a potential target above the level of 5085.
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