ETH/USD are trading at 3927 and continue to move within the framework of the growth and bullish channel development. Moving averages indicate the presence of a short-term upward trend in Ether. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the asset’s decline from the current levels. At the moment, we should expect an attempt to develop the coin’s growth and a test of the resistance level near the 4045 area. From where we should again expect a downward rebound in prices and a continuation of the fall of the Ethereum rate with a potential target below the 3315 level.
Ethereum Forecast and Analysis for December 18, 2024
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 Double Top reversal pattern. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 4205 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the level of 4665. With a breakout of the support area and closing of quotes below the 3605 mark, which will indicate a breakout of the lower border of the bullish channel.
Ethereum Forecast and Analysis for December 18, 2024 suggests an attempt at correction and a test of the resistance area near the 4045 level. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the 3315 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 cancellation of the digital currency fall option will be a breakout of the 4205 area. Which will indicate continued growth of the digital currency with a potential target above the 4665 level.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
