Ethereum ETH/USD ends the trading week at 3405 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 3085 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 4395.
Ethereum Forecast March 4 — 8, 2024
An additional signal in favor of growth in ETH/USD quotes in the current trading week of March 4 — 8, 2024 will be a test of the resistance line on the relative strength index. The second signal will be a rebound from the upper boundary 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 2445. 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 1925. Confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 3645 .
Ethereum Forecast March 4 — 8, 2024 assumes an attempt to develop a correction and test the support area near the level of 3085. Where can we expect a rebound upward and continued growth of the cryptocurrency to the area above the level of 4395. 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 2445 area. In this case, we should expect a continuation of the rise with a target above the 1925 area.
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