Ethereum ETH/USD completes the trading week at 1665 and continues to move as part of the development of strong bull correction and the descending channel. Sliding average indicate the presence of a bear’s trend on ETH/USD. Prices again test the area between signal lines, which indicates pressure from the sellers of cryptocurrency and a potential continuation of the fall from current levels. At the moment, it is worth expecting an attempt to develop a price growth and a test level of resistance near the area of 1865. Where to again expect a rebound down and the continuation of the rate of the rate and the cost of Ethereum with a potential goal below level 255.
Ethereum Weekly Forecast August 8 — 12, 2022
An additional signal in favor of the fall of the ETH/USD quotes on the current trade week on August 8 — 12, 2022 will be a trend resistance test on the relative force indicator. The second signal will be the rebound from the upper boundary of the bear canal. The cancellation of the option of falling the cost of cryptocurrency in the current trade week will be a strong growth and a breakdown of the level of 2525. This will indicate a breakdown of the resistance area and the continuation of the ETH/USD quotes with a potential target above 2945. Confirmation of the drop in the Ethereum cryptocurrency will be a breakdown of the support and closing of the quotes below the level 1265.
Ethereum Weekly Forecast August 8 — 12, 2022 involves an attempt to reduce and test the resistance area near the level of 1865. Where to expect a rebound and continue the fall of cryptocurrency to the area below level 255. An additional signal in favor of a decrease in the Ethereum course will be a trend test on the indicator relative power. The cancellation of the fall option will be a strong growth and breakdown of the area 2525. In this case, it is worth expecting a continuation of growth for a goal above the region 2945.