Ethereum ETH/USD ends the trading week at 3093 and continues to move within the growth and bullish channel. Moving averages indicate a bearish trend for ETH/USD. Prices have broken through the area between the signal lines upwards, which indicates pressure from cryptocurrency buyers and potential continued growth from current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 2865 area. From where we should again expect an upward rebound and continued growth of the rate and cost of Ethereum with a potential target above the level of 4105.
Ethereum Forecast and Analysis November 18 — 22, 2024
An additional signal in favor of the growth of ETH/USD quotes in the current trading week of November 18 — 22, 2024 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 “Triangle” model. The cancellation of the option for the rise in the value of the cryptocurrency in the current trading week will be a fall and a breakout of the 2365 level. This will indicate a breakout of the support area and a continuation of the fall in ETH/USD quotes with a potential target below the 1825 level. The growth of the Ethereum cryptocurrency will be confirmed by a breakout of the resistance area and closing of quotes above the 3425 level.
Ethereum Forecast and Analysis November 18 — 22, 2024 suggests an attempt to develop a bearish correction and test the support area near the 2865 level. From where we should expect an upward rebound and continued growth of the cryptocurrency to the area above the 4105 level. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line on the relative strength indicator. The cancellation of the growth option will be a fall and a breakout of the 2365 area. In this case, we should expect a continuation of the fall with a target below the 1825 area.
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