Ethereum ETH/USD ends the trading week at 3940 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 upward, which indicates pressure from cryptocurrency buyers and potential continued growth from current levels. At the moment, we can expect an attempt to develop price growth and a test of the resistance level near the 3445 area. From where we can again expect a downward rebound and a continuation of the fall in the rate and value of Ethereum with a potential target below the level of 4895.
Ethereum Forecast March 11 — 15, 2024
An additional signal in favor of growth in ETH/USD quotes in the current trading week of March 11 — 15, 2024 will be a test of the resistance line on the relative strength index. The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option to increase the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 2885. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes with a potential target below the level of 2245. Confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 4185 .
Ethereum Forecast March 11 — 15, 2024 assumes an attempt to develop a correction and test the support area near the level of 3445. From where we can expect a rebound upward and continued growth of the cryptocurrency to the area above the level of 4895. An additional signal in favor of an increase in the Ethereum rate will be a test of the trend line on the relative strength indicator. Cancellation of the downward option will be a strong growth and a breakdown of the area of 2885. In this case, we should expect a continuation of the rise with a target above the area of 2245.
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