ETH/USD quotes are trading at 1797 and continue to move within the framework of the development of the correction and the correction channel. Moving averages indicate a short-term bearish 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 coin growth and a test of the resistance level near the 1815 area. From where we should again expect a downward price rebound and a continued fall in the Ethereum rate with a potential target below the 1375 level.
Ethereum Forecast and Analysis for May 7, 2025
An additional signal in favor of a decrease 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 bearish channel. The cancellation of the cryptocurrency fall option will be a strong increase in the value of Ethereum and a breakout of the 1965 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the 2275 level. With a breakout of the support area and closing of quotes below the 1625 mark, which will indicate a breakout of the lower border of the bullish correction channel.
Ethereum Forecast and Analysis for May 7, 2025 suggests an attempt at a bullish correction and a test of the support area near the level of 1815. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the level of 1375. 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 option of a fall in the digital currency will be a breakout of the 1965 area. Which will indicate continued growth of the digital currency with a potential target above the level of 2275.
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