Ethereum ETH/USD ends the trading week at 2736 and continues to move as part of the fall 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 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 a test of the resistance level near the area of 2865. Where can we expect a rebound again and a continued fall in the exchange rate and the cost of Ethereum with a potential target below the level of 755.
Ethereum Weekly Forecast March 7 — 11, 2022
An additional signal in favor of falling ETH/USD quotes in the current trading week March 7 — 11, 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 value in the current trading week will be a strong growth and a breakdown of the level of 3455. 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 4405. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 2005, as well as the breakdown of the lower boundary of the long-term bullish channel.
Ethereum Weekly Forecast March 7 — 11, 2022 suggests an attempt to decrease and test the resistance area near the level of 2865. Where should we expect a rebound and the cryptocurrency will continue to fall to the area below the level of 755. An additional signal in favor of the Ethereum rate 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 3455. In this case, we should expect a continuation of the rise with a target above the area of 4405.
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