Ethereum ETH/USD ends the trading week at 3870 and continues to move within the growth and bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices have broken through the area between the signal lines upwards, which indicates pressure from cryptocurrency buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 3465 area. From where we should again expect an upward rebound and continued growth of the rate and cost of Ethereum with a potential target above the level of 5295.
Ethereum Forecast and Analysis December 16 — 20, 2024
An additional signal in favor of the growth of ETH/USD quotes in the current trading week of December 16 — 20, 2024 will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the option for the rise in the value of the cryptocurrency in the current trading week will be a fall and a breakout of the level of 3075. This will indicate a breakout of the support area and a continuation of the fall in ETH/USD quotes with a potential target below the level of 2735. The growth of the Ethereum cryptocurrency will be confirmed by a breakout of the resistance area and closing of quotes above the level of 4335.
Ethereum Forecast and Analysis December 16 — 20, 2024 suggests an attempt to develop a bearish correction and test the support area near the level of 3465. From where we should expect an upward rebound and continued growth of the cryptocurrency to the area above the level of 5295. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line on the relative strength indicator. The cancellation of the growth option will be a fall and a breakout of the 3075 area. In this case, we should expect a continuation of the fall with a target below the 2705 area.
