Ethereum ETH/USD ends the trading week at 1808 and continues to move as part of the fall 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 from current levels. At the moment, we should expect an attempt to develop a price increase and test the resistance level near the area of 2385. 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 655.
Ethereum Weekly Forecast May 30 — June 3, 2022
An additional signal in favor of falling ETH/USD quotes in the current trading week May 30 — June 3, 2022 will be a trend resistance test 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 falling cryptocurrency prices in the current trading week will be a strong growth and a breakdown of the level of 2775. 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 3445. The fall of the Ethereum cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level 1605.
Ethereum Weekly Forecast May 30 — June 3, 2022 suggests an attempt to decrease and test the resistance area near the level of 2385. Where should we expect a rebound and the cryptocurrency will continue to fall to the area below the level of 655. An additional signal in favor of Ethereum’s depreciation will be a test of the trend line at relative strength indicator. Cancellation of the fall option will be a strong growth and a breakdown of the area of 2775. In this case, we should expect continued growth with a target above the area of 3445.
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