Ethereum Forecast for February 7, 2024


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ETH/USD quotes are trading at 2323 and continue to move as part of the development of the correction and have left the bullish channel. Moving averages indicate a short-term bearish trend for Ether. Prices have broken through the area between the signal lines downwards, 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 2385 area. From where we can again expect a downward 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 February 7, 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 2535. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2695. With a breakdown of the support area and closing of quotes below the level of 2155.

Ethereum Forecast for February 7, 2024

Ethereum Forecast for February 7, 2024 suggests an attempt at correction and a test of the resistance area near the level of 2385. 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 2535 area. This will indicate continued growth of the digital currency with a potential target above the level of 2695.


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