ETH/USD are trading at 2710 and continue to move within the development of the correction and the formation of the “Triangle” model. Moving averages indicate the presence of a short-term bearish trend for Ether. Prices are testing the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the asset value 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 2735 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 2065 level.
Ethereum Forecast and Analysis for February 20, 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 “Triangle” model. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 2995 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the level of 3445. With a breakout of the support area and closing of quotes below the 2405 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 February 20, 2025 suggests an attempt at a bullish correction and a test of the resistance area near the 2735 level. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the 2065 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 2995 area. Which will indicate continued growth of the digital currency with a potential target above the 3445 level.
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