ETH/USD are trading at 3337 and continue to move as part of the development of the fall and the formation of the “Triangle” model. Moving averages indicate a short-term bearish trend for Ethereum. Prices have broken through the area between the signal lines downwards, which indicates pressure from sellers and a potential continuation of the asset’s value decline from 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 3365 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 2905 level.
Ethereum Forecast and Analysis for December 31, 2024
An additional signal in favor of a fall in 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 “Triangle” model. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 3585 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the level of 3975. With a breakout of the support area and closing of quotes below the 3185 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 December 31, 2024 suggests an attempt at a bullish correction and a test of the resistance area near the 3365 level. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the 2905 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 3585 area. Which will indicate continued growth of the digital currency with a potential target above the 3975 level.
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