ETH/USD quotes are trading at 1631 and continue to move within the framework of the correction development and the formation of the “Triangle” model. Moving averages indicate the presence of a short-term bearish trend for Ether. Prices are again testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the asset’s fall from the current levels. At the moment, we should expect an attempt to develop a bullish correction of the coin and a test of the resistance level near the 1675 area. From where we should again expect a downward rebound in prices and a continuation of the fall in the Ethereum rate with a potential target below the 945 level.
Ethereum Forecast and Analysis for April 16, 2025
An additional signal in favor of the fall of ETH/USD quotes will be a test of the resistance line on the relative strength indicator. The second signal will be a rebound from the upper border of the descending channel. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 1905 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the level of 2375. With a breakout of the support area and closing of quotes below the 1495 mark, which will indicate a breakout of the lower border of the “triangle” pattern and the beginning of the implementation of the pattern with targets below.
Ethereum Forecast and Analysis for April 16, 2025 suggests an attempt at a bullish correction and a test of the resistance area near the 1675 level. Where should we expect a rebound and a continued fall of the ETH/USD cryptocurrency to the area below the 945 level. An additional signal in favor of a decline in Ethereum will be a test of the trend line on the relative strength indicator. The breakdown of the 1905 area will cancel the option of the digital currency falling. This will indicate the continuation of the growth of the digital currency with a potential target above the 2375 level.
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