Ethereum ETH/USD ends the trading week at 3131 and continues to move within the bearish correction and bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices are again testing the area between the signal lines upward, which indicates pressure from cryptocurrency buyers and a potential continuation of growth from current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 2985 area. From where we can again expect a rebound upward and continued growth in the rate and value of Ethereum with a potential target above the level of 4415.
Ethereum Forecast April 29 — May 3, 2024
An additional signal in favor of growth in ETH/USD quotes in the current trading week April 29 — May 3, 2024 will be a test of the support line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to increase the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 2375. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes with a potential target below the level of 2135. Confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 3535 , which will indicate a breakdown of the upper boundary of the downward correction channel.
Ethereum Forecast April 29 — May 3, 2024 assumes an attempt to develop a correction and test the support area near the level of 2985. From where we can expect a rebound upward and continued growth of the cryptocurrency to the area above the level of 4415. An additional signal in favor of an increase in the Ethereum rate will be a test of the line trend on the relative strength indicator. Cancellation of the reduction option will be a strong growth and a breakdown of the 2375 area. In this case, we should expect a continuation of the rise with a target above the area of 2145.
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