ETH/USD quotes are trading at 2339 and continue to move as part of the development of a bullish correction and have left the ascending channel. Moving averages indicate a short-term bearish trend for Ether. Prices have broken through the area between the signal lines upward, 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 bullish correction in the value of the coin and a test of the resistance level near the 2405 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 1925.
Ethereum Forecast for February 2, 2024
An additional signal in favor of a fall 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. Cancellation of the cryptocurrency fall option will be a strong increase in the value of Ethereum and a breakdown of the level of 2515. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2685. With a breakdown of the support area and closing of quotes below the level of 2165.
Ethereum Forecast for February 2, 2024 suggests an attempt at correction and a test of the resistance area near the level of 2405. Where can we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1925. 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 2515 area. This will indicate continued growth of the digital currency with a potential target above the level of 2685.
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