ETH/USD quotes are trading at 1639 and continue to move within the framework of the development of the correction and the formation of the “Wedge” model. Moving averages indicate a short-term bearish trend for Ethereum. Prices are testing the area between the signal lines again, indicating pressure from sellers and a potential continuation of the asset’s price decline from current levels. At the moment, we should expect an attempt to develop a bullish correction of the coin and a test of the resistance level near the 1705 area. From where we should again expect a downward price rebound and a continuation of the Ethereum rate decline with a potential target below the 1405 level.
Ethereum Forecast for April 16, 2025
An additional signal in favor of a fall 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 “Wedge” reversal pattern. The cancellation of the cryptocurrency fall option will be a strong increase in the Ethereum value and a breakout of the 1865 level. This will indicate a breakout of the resistance area and continued growth of ETH/USD quotes to the level of 2285. With a breakout of the support area and closing of quotes below the 1475 mark, which will indicate a breakout of the lower border of the “Wedge” pattern and the beginning of the implementation of the pattern with targets below.
Ethereum Forecast for April 16, 2025 suggests an attempt at a bullish correction and a test of the resistance area near the 1705 level. Where should we expect a rebound and continued fall of the ETH/USD cryptocurrency to the area below the 1405 level. 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 digital currency fall option will be a breakout of the 1865 area. Which will indicate continued growth of the digital currency with a potential target above the 2285 level.
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