Ethereum ETH/USD ends the trading week at 3137 and continues to move as part of the growth and the formation of the “Triangle” 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 correction and a test of the support level near the area of 2725. 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 4205.
Ethereum Weekly Forecast March 28 — April 1, 2022
An additional signal in favor of the growth of ETH/USD quotes in the current trading week March 28 — April 1, 2022 will be a test of the descending trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the Triangle pattern. Cancellation of the option of raising the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 2205. This will indicate a breakdown of the support area and a continuation of the fall of ETH/USD quotes with a potential target below the level of 1405. Confirmation of the rise of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 3425, which will indicate going beyond the “Triangle” model.
Ethereum Weekly Forecast March 28 — April 1, 2022 suggests an attempt to decrease and test the support area near the level of 2725. Where should we expect a rebound and continued growth of the cryptocurrency in the area above the level of 4205. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line at relative strength indicator. Cancellation of the growth option will be a fall and a breakdown of the area of 2205. In this case, we should expect a continuation of the fall with a target below the area of 1405.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
