Ethereum ETH/USD ends the trading week at 1071 and continues to move as part of the fall and the downward channel. The moving averages indicate a bearish trend for ETH/USD. Prices have broken through the area between the signal lines down, which indicates pressure from cryptocurrency sellers and a potential continuation of the fall already from current levels. At the moment, we should expect an attempt to develop a price increase and test the resistance level near the area of 1285. Where can we expect a rebound down again and a continued fall in the rate and value of Ethereum with a potential target below the level of 255.
Ethereum Weekly Forecast July 4 — 8, 2022
An additional signal in favor of falling ETH/USD quotes in the current trading week July 4 — 8, 2022will be a trend resistance test on the relative strength index (RSI). The second signal will be a rebound from the upper border of the bearish channel. Cancellation of the option of falling cryptocurrency prices in the current trading week will be a strong growth and a breakdown of the level of 1875. This will indicate a breakdown of the resistance area and a continued rise in ETH/USD quotes with a potential target above the level of 2525. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 695.
Ethereum Weekly Forecast July 4 — 8, 2022 suggests an attempt to decrease and test the resistance area near the level of 1285. Where should we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 255. An additional signal in favor of the Ethereum depreciation will be a test of the trend line on the indicator relative strength. Cancellation of the fall option will be a strong growth and a breakdown of the 1875 area. In this case, we should expect continued growth with a target above the 2525 area.