Ethereum Forecast for May 23, 2024


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ETH/USD are trading at 3780 and continue to move as part of the development of growth and a bullish 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 bearish correction in the value of the coin and a test of the support level near the 3465 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 4385.

Ethereum Forecast for May 23, 2024

An additional signal in favor of an increase 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 support area. Cancellation of the cryptocurrency growth option will be a fall in the value of Ethereum and a breakdown of the level of 3185. This will indicate a breakdown of the support area and a continued fall of ETH/USD quotes to the level of 2805. With a breakdown of the resistance area and closing of quotes above the level of 3985.

Ethereum Forecast for May 23, 2024

Ethereum Forecast for May 23, 2024 assumes an attempt at correction and a test of the support area near the level of 3465. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 4385. 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 area of 3185. This will indicate a continued fall of the digital currency with a potential target below the level of 2805.


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