Ethereum ETH/USD ends the trading week at 3284 and continues to move as part of the correction and the formation of a reversal “Wedge” pattern. The moving averages indicate a bearish trend for ETH/USD. Prices have broken through the area between the signal lines up, which indicates pressure from cryptocurrency buyers and a potential continuation of growth already from current levels. At the moment, we should expect an attempt to develop a price increase and test the resistance level near the 3435 area. From where we should again expect a rebound down and a continuation of the fall in the exchange rate and the cost of Ethereum with a potential target below the level of 1725.
Ethereum Weekly Forecast April 11 — 15, 2022
An additional signal in favor of a decrease in ETH/USD quotes in the current trading week April 11 — 15, 2022 will be a test of the downtrend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the reversal pattern. Cancellation of the option of falling cryptocurrency value in the current trading week will be a strong growth and a breakdown of the level of 4545. This will indicate a breakdown of the resistance area and a continued rise in ETH/USD quotes with a potential target above the level of 5305. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 2755, which will indicate a breakdown of the lower border of the reversal pattern “Wedge”.
Ethereum Weekly Forecast April 11 — 15, 2022 suggests an attempt to decrease and test the resistance area near the level of 3435. Where should we expect a rebound and the cryptocurrency will continue to fall to the area below the level of 1725. An additional signal in favor of Ethereum’s depreciation will be a test of the trend line on the indicator relative strength. Cancellation of the fall option will be a strong growth and a breakdown of the area of 4545. In this case, we should expect a continuation of the rise with a target above the area of 5305.
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