Ethereum ETH/USD ends the trading week at 2682 and continues to move as part of the fall and a long-term bullish 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 2945 area. 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 1185.
Ethereum Weekly Forecast May 9 — 13, 2022
An additional signal in favor of a decrease in ETH/USD quotes in the current trading week May 9 — 13, 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 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 3505. 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 4255. The fall of the Ethereum cryptocurrency will be confirmed by a breakdown of the support area and closing of quotes below the level 2205, which will indicate a breakdown of the lower boundary of the bullish channel.
Ethereum Weekly Forecast May 9 — 13, 2022 suggests an attempt to decrease and test the resistance area near the level of 2945. Where should we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 1185. An additional signal in favor of the Ethereum 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 3505. In this case, we should expect a continuation of the rise with a target above the area of 4255.
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