ETH/USD are trading at 2607 and continue to move within the framework of the development of growth and a bullish 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 value from current levels. At the moment, we should expect an attempt to develop a bearish correction in the coin value and a test of the support level near the 2415 area. From where we should again expect an upward price rebound and continued growth in the Ethereum rate with a potential target above the 2845 level.
Ethereum Forecast and Analysis for October 1, 2024
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 upper border of the descending channel. The cancellation of the cryptocurrency growth option will be a drop in the value of Ethereum and a breakout of the 2425 level. This will indicate a breakout of the support area and continued growth in ETH/USD quotes to the 2205 level. With a breakout of the resistance area and closing of quotes above the 2705 mark, we should expect confirmation of the coin’s growth.
Ethereum Forecast and Analysis for October 1, 2024 suggests an attempt at correction and a test of the support area near the level of 2415. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 2845. 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 breakout of the 2425 area. Which will indicate a continued fall of the digital currency with a potential target below the level of 2205.
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