Ethereum are trading at 1543 and continue to move within the correction and left the bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $189,686,225,179. Moving averages indicate the presence of a short-term bullish trend for Ethereum. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continued growth in the value of the asset already from 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 1590 area. From where we should again expect a rebound down and a continued fall in the Ethereum rate with a potential target below 1305.
Ethereum Forecast February 16, 2023
An additional signal in favor of the decline in ETH/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish channel, which was broken down by sellers. Cancellation of the cryptocurrency fall option will be a strong growth of Ethereum and a breakdown of the level of 1695. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 1895. With a breakdown of the support area and closing of quotes below the level of 1395.
Ethereum Forecast February 16, 2023 suggests an attempt to correct and test the resistance area near the level of 1590. Where should we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1305. An additional signal in favor of Ethereum’s decline will be a test of the trend line on the relative strength indicator. Cancellation of the option of falling digital currency will be a breakdown of the area of 1695. Which will indicate the continued growth of the digital currency with a potential target above the level of 1895.
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