The ETH/USD quotes are trading at 2170 and continue to move as part of the development of the correction and the formation of the “Triangle” pattern. 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 a decline in the value of the coin and a test of the support level near the 2105 area. From where we can again expect a rebound in prices and continued growth in the Ethereum rate with a potential target above the level of 2585.
Ethereum Forecast for December 19, 2023
An additional signal in favor of growth in ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Triangle pattern. Cancellation of the cryptocurrency rise option will be a fall in the value of Ethereum and a breakdown of the 2025 level. This will indicate a breakdown of the support area and a continued fall of ETH/USD quotes below the level of 1775. With a breakdown of the resistance area and the closing of quotes above the level of 2365, which will indicate a breakdown of the upper boundary of the “Triangle” model ” and the beginning of working out a pattern with targets at the top.
Ethereum Forecast for December 19, 2023 assumes an attempt at correction and a test of the support area near the level of 2105. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 2585. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the growth option for the digital currency will be a breakdown of the 2025 area. This will indicate a continued fall of the digital currency with a potential target below the level of 1775.
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