Ethereum ETH/USD ends the trading week at 2657 and continues to move within the growth development and left the bearish channel. Moving averages indicate the presence of a bearish trend for ETH/USD. Prices have broken through the area between the signal lines downwards, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall from the current levels. At the moment, we should expect an attempt to develop a price decline and a test of the support level near the 2445 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 3265.
Ethereum Forecast and Analysis September 30 — October 4, 2024
An additional signal in favor of an increase in ETH/USD quotes in the current trading week of September 30 — October 4, 2024 will be a test of the broken support 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 growth option for the cryptocurrency during the current trading week will be a fall and a breakout of the 2065 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 1765 level. The growth of the Ethereum cryptocurrency will be confirmed by a breakout of the resistance area and closing of quotes above the 3205 level, which will indicate a breakout of the upper boundary of the descending channel.
Ethereum Forecast and Analysis September 30 — October 4, 2024 suggests an attempt to develop a bearish correction and test the support area near the 2445 level. From where we should expect an upward rebound and continued growth of the cryptocurrency to the area above the 3265 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 growth option will be cancelled by a fall and a breakout of the 2065 area. In this case, we should expect a continuation of the decline with a target below the 1765 area.
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