ETH/USD are trading at 2810 and continue to move within the framework of the development of a bullish correction and a descending channel. 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 fall in the value of the asset from the current levels. At the moment, we should expect an attempt to develop the growth of the coin and a test of the resistance level near the 2885 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 2245 level.
Ethereum Forecast and Analysis for February 5, 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 bearish channel. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 3175 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the level of 3585. With a breakout of the support area and closing of quotes below the 2535 mark, which will indicate a breakout of the lower border of the bullish channel.
Ethereum Forecast and Analysis for February 5, 2025 suggests an attempt at a bullish correction and a test of the resistance area near the 2885 level. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the 2245 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 3175 area. Which will indicate continued growth of the digital currency with a potential target above the 3585 level.
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