Ethereum are trading at 1864 and continue to move as part of growth and have left the bearish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $224,737,198,967. Moving averages indicate the presence of a short-term bearish trend for Ethereum. Prices have broken through the area between the signal lines upwards, 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 support level near the area of 1805. From where we should again expect a rebound upwards and a continuation of the growth of the Ethereum rate with a potential target below 2145.
Ethereum Forecast for June 1, 2023
An additional signal in favor of the rise 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 bullish channel. Cancellation of the cryptocurrency growth option will be the fall of Ethereum and a breakdown of the level of 1725. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 1585. With a breakdown of the resistance area and closing of quotes above the level of 1985.
Ethereum Forecast for June 1, 2023 suggests an attempt to correct and test the support area near the level of 1805. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area below the level of 2145. 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 1725 area, which will indicate the continued fall of the digital currency with a potential target below the level of 1585.
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