Ethereum Weekly Forecast June 5 — 9, 2023

Ethereum ETH/USD ends the trading week at 1888 and continues to move within the correction and bullish channel. Moving averages indicate the presence of a bullish trend for ETH/USD. Prices are again testing the area between the signal lines, 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 decrease and a test of the support level near the area of 1765. From where we should again expect a rebound upwards and continued growth in the rate and cost of Ethereum with a potential target above the level of 2925.

Ethereum Weekly Forecast June 5 — 9, 2023

An additional signal in favor of the growth of ETH/USD quotes in the current trading week June 5 — 9, 2023 will be a test of the bullish support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish channel. Cancellation of the option of growth in the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 1405. 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 1065. Confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 2005.

Ethereum Weekly Forecast June 5 — 9, 2023 suggests an attempt to develop growth and test the support area near the level of 1765. Where should we expect a rebound upwards and the cryptocurrency will continue to grow to the area above the level of 2925. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line on the relative strength indicator. Cancellation of the growth option will be a fall and a breakdown of the area of 1405. In this case, we should expect a continuation of the decline with a target below the area of 1065.

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