The ETH/USD quotes are trading at 2179 and continue to move as part of the development of the fall and have left the bullish channel. Moving averages indicate a short-term bullish trend for Ether. Prices are again testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of growth in the value of the asset from current levels. At the moment, we can expect an attempt to develop an increase in the value of the coin and a test of the resistance level near the 2235 area. From where we can again expect a rebound in prices and a continuation of the fall in the Ethereum rate with a potential target below the level of 1945.
Ethereum Forecast for December 12, 2023
An additional signal in favor of a decrease 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 border of the bullish channel, which was broken down by sellers. Cancellation of the option to reduce the cryptocurrency will be a strong increase in the value of Ethereum and a breakdown of the level of 2375. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2665. With a breakdown of the support area and closing of quotes below the level of 2035, which will indicate a breakdown of the lower boundary of the bullish channel.
Ethereum Forecast for December 12, 2023 suggests an attempt at correction and a test of the resistance area near the level of 2235. Where can we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1945. An additional signal in favor of a fall in Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the option to reduce the digital currency will be a breakdown of the 2375 area. This will indicate continued growth of the digital currency with a potential target above the level of 2665.
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