ETH/USD are trading at 2532 and continue to move as part of the development of the correction and the formation of the “Triangle” model. Moving averages indicate a short-term bullish trend for Ethereum. Prices have broken through the area between the signal lines downwards, indicating pressure from sellers and a potential continuation of the asset’s fall from current levels. At the moment, we should expect an attempt to develop a bearish correction in the coin’s 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 of the Ethereum rate with a potential target above the 3095 level.
Ethereum Forecast and Analysis for October 25, 2024
An additional signal in favor of an increase 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 “Triangle” model. The cancellation of the cryptocurrency growth option will be a drop in the Ethereum value and a breakout of the 2265 level. This will indicate a breakout of the support area and a continuation of the fall in ETH/USD quotes to the 2135 level. With a breakout of the resistance area and closing of quotes above the 2905 mark.
Ethereum Forecast and Analysis for October 25, 2024 suggests an attempt at correction and a test of the support area near the 2415 level. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the 3095 level. 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 digital currency growth option will be a breakout of the 2265 area. Which will indicate a continuation of the decline in the digital currency with a potential target below the 2135 level.
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