Ethereum ETH/USD ends the trading week at 3418 and continues to move within the growth and bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices have broken through the area between the signal lines upwards, which indicates pressure from cryptocurrency buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop a price correction and a test of the support level near the 3235 area. From where we should again expect an upward rebound and continued growth of the rate and cost of Ethereum with a potential target above the level of 4245.
Ethereum Forecast January 20 — 24, 2025
An additional signal in favor of the growth of ETH/USD quotes in the current trading week of January 20 — 24, 2025 will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option of increasing the value of the cryptocurrency in the current trading week will be a fall and a breakout of the level of 2815. This will indicate a breakout of the support area and a continuation of the fall in ETH/USD quotes with a potential target below the level of 2455. The growth of the Ethereum cryptocurrency will be confirmed by a breakout of the resistance area and closing of quotes above the level of 3605, which will indicate a breakout of the upper boundary of the descending correction channel.
Ethereum Forecast January 20 — 24, 2025 suggests an attempt to develop a bearish correction and test the support area near the level of 3235. From where we should expect an upward rebound and continued growth of the cryptocurrency to the area above the level of 4245. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line on the relative strength indicator. The growth option will be cancelled by a fall and a breakout of the 2815 area. In this case, we should expect a continuation of the decline with a target below the 2455 area.
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