The ETH/USD quotes are trading at 1585 and continue to move as part of the development of the fall and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of publication of the forecast is $191,045,798,698. Moving averages indicate a short-term bearish trend for Ether. Prices moved down from the area between the signal lines, 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 1650 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 1345.
Ethereum Forecast for September 28, 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 1705. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2085. With a breakdown of the support area and closing of quotes below the level of 1425, which will indicate a breakdown of the lower boundary of the downward channel.
Ethereum Forecast for September 28, 2023 suggests an attempt at correction and a test of the resistance area near the level of 1650. Where can we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1345. 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 1705 area. This will indicate continued growth of the digital currency with a potential target above the level of 2085.
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