Ethereum ETH/USD ends the trading week at 2996 and continues to move within the correction and the downward channel. The moving averages indicate a bearish trend for ETH/USD. Prices have broken through the area between the signal lines down, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall already from current levels. At the moment, we should expect an attempt to develop a price increase and test the resistance level near the 3105 area. From where we should again expect a rebound down and a continued fall in the exchange rate and the cost of Ethereum with a potential target below the level of 1205.
Ethereum Weekly Forecast April 25 — 29, 2022
An additional signal in favor of a decrease in ETH/USD quotes in the current trading week April 25 — 29, 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 descending channel. Cancellation of the option of falling cryptocurrency prices in the current trading week will be a strong growth and a breakdown of the level of 4035. 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 4705. The fall of the Ethereum cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level 2255, which will indicate a breakdown of the lower boundary of the bullish channel.
Ethereum Weekly Forecast April 25 — 29, 2022 suggests an attempt to decrease and test the resistance area near the level of 3105. Where should we expect a rebound and the cryptocurrency will continue to fall to the area below the level of 1205. 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 4035. In this case, we should expect a continuation of the rise with a target above the area of 4705.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link