Ethereum are trading at 3530 and continue to move as part of the rise and the formation of the “Head and Shoulders” reversal pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $424,616,173,587. Moving averages indicate a short-term bullish trend for Ethereum. Prices went up from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the asset’s price growth from the current levels. At the moment, we should expect an attempt to develop the growth in the value of the coin and test the resistance level near the area of 3655. Where can we expect a rebound again and the continuation of the fall in the Ethereum rate with a potential target above below 2365.
Ethereum Forecast and ETH/USD Analysis September 17, 2021
An additional signal in favor of falling ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the “Head and Shoulders” reversal pattern. Cancellation of the cryptocurrency fall option will be a strong growth and a breakdown of the level of 4065. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 5005. With the breakdown of the support area and closing of quotations below the level of 2855, we should expect confirmation of the development of a downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis September 17, 2021 suggests an attempt to correct and test the resistance area near the level of 3655. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 2365. An additional signal in favor of the fall of Ethereum will be a line test trend on the relative strength index (RSI). Cancellation of the option to reduce the digital currency will be a breakdown of the 4065 area. This will indicate a continued rise in the digital currency with a potential target above the level of 5005.