Ethereum ETH/USD ends the trading week at 1365 and continues to move as part of the fall and the downward channel. The moving averages indicate a bearish trend for ETH/USD. Prices broke down between the signal lines, 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 area of 1785. Where can we expect a rebound down again 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 October 3 — 7, 2022
An additional signal in favor of falling ETH/USD quotes in the current trading week October 3 — 7, 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, which was broken down by the sellers. 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 2305. 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 2725. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 1005.
Ethereum Weekly Forecast October 3 — 7, 2022 suggests an attempt to develop growth and test the resistance area near the level of 1785. Where should we expect a rebound down and the cryptocurrency will continue to fall to the area below the level of 655. An additional signal in favor of the depreciation of Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the fall option will be a strong growth and a breakdown of the area of 2305. In this case, we should expect continued growth with a target above the area of 2725.
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