The ETH/USD quotes are trading at 1587 and continue to move as part of the development of a strong fall. The capitalization of the Ethereum cryptocurrency at the time of publication of the forecast is $191,644,103,168. 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 sellers and a potential continuation of the fall in the value of the asset from current levels. At the moment, we can expect an attempt to develop a correction in the value of the coin and a test of the support level near the 1555 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 1775.
Ethereum Forecast for October 10, 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 upper border of the downward channel. Cancellation of the cryptocurrency growth option will be a fall in the value of Ethereum and a breakdown of the level of 1505. This will indicate a breakdown of the support area and a continued fall of ETH/USD quotes below the level of 1345. With a breakdown of the resistance area and the closing of quotes above the level of 1645, which will indicate a breakdown of the upper boundary of the downward correction channel.
Ethereum Forecast for October 10, 2023 assumes an attempt at correction and a test of the support area near the level of 1555. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 1775. 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 1505 area. This will indicate a continued fall of the digital currency with a potential target below the level of 1345.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
