The ETH/USD quotes are trading at 1582 and continue to move as part of a bullish correction and a downward channel. The capitalization of the Ethereum cryptocurrency at the time of publication of the forecast is $189,866,301,966. 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 rise in the value of the coin and a test of the resistance level near the 1625 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 1575.
Ethereum Forecast for September 13, 2023
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 upper border of the downward channel. Cancellation of the cryptocurrency fall option will be a strong increase in the value of Ethereum and a breakdown of the level of 1765. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 1985. With a breakdown of the support area and closing of quotes below the level of 1475.
Ethereum Forecast for September 13, 2023 suggests an attempt at correction and a test of the resistance area near the level of 1625. Where can we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1575. An additional signal in favor of a decline in Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the option for the digital currency to fall will be a breakdown of the 1765 area. This will indicate continued growth of the digital currency with a potential target above the level of 1985.
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