ETH/USD quotes are trading at 1823 and continue to move within the framework of the development of the correction and the bullish channel. Moving averages indicate a short-term bullish trend for Ether. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and potential continued growth in the asset’s value from current levels. At the moment, we should expect an attempt to develop a bearish correction of the coin and a test of the support level near the 1765 area. From where we should again expect an upward price rebound and continued growth in the Ethereum rate with a potential target above the 2015 level.
Ethereum Forecast and Analysis for May 6, 2025
An additional signal in favor of growth in ETH/USD quotes will be a test of the support line on the relative strength indicator. The second signal will be a rebound from the lower border of the bullish channel. The cancellation of the cryptocurrency growth option will be a drop in the value of Ethereum and a breakout of the 1645 level. This will indicate a breakout of the support area and a continuation of the fall in ETH/USD quotes to the 1145 level. With a breakout of the resistance area and closing of quotes above the 1965 mark, which will indicate a breakout of the upper border of the bullish channel, and this is a signal for growth by the width of the channel.
Ethereum Forecast and Analysis for May 6, 2025 suggests an attempt at a bullish correction and a test of the support area near the level of 1765. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 2015. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. The cancellation of the growth option for the digital currency will be a breakdown of the 1645 area. Which will indicate a continued fall of the digital currency with a potential target below the level of 1145.
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