Ethereum is trading at the level of 4303 and continue to move as part of the growth and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $511,465,504,228. Moving averages indicate a short-term bearish trend for Ethereum. Prices went up from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the asset value already from current levels. At the moment, we should expect an attempt to develop a correction in the value of the coin and a test of the resistance level near the 4450 area. Where can we expect a rebound down again and a continuation of the Ethereum rate fall with a potential target below 3765.
Ethereum Forecast November 30, 2021
An additional signal in favor of falling 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 descending channel. Cancellation of the option to reduce the cryptocurrency will be a strong growth and a breakdown of the level of 4755. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 5155. With the breakdown of the support area and closing of quotations below the level of 3875, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast November 30, 2021 suggests an attempt to correct and test the resistance area near the level of 4450. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 3765. An additional signal in favor of reducing Ethereum will be a line test trend on the relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the 4755 area. This will indicate continued growth of the digital currency with a potential target above the level of 5155.
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