Ethereum ETH/USD ends the trading week at 165.12 and continues to move as part of the correction and the formation of the ”Triangle” pattern. Moving averages indicate a bullish trend in ETH/USD. Prices moved up from the area between the signal lines, indicating pressure from buyers of cryptocurrency and potential continuation of growth already from the current levels.At the moment, we should expect an attempt to develop a rise in prices and a test of the support level near the area of 1465.05.Where we can again expect a rebound and continued growth in the rate and value of Ethereum with a potential target above the level of 2205.45.
Cryptocurrency Ethereum Forecast March 15 — 19, 2021
An additional signal in favor of the growth of ETH/USD quotes in the current trading week March 15 — 19, 2021 will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ”Triangle” pattern. Cancellation of the growth option for the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 1205.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes with a potential target below the level of 835.05. Confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 1945.05, which will indicate a breakdown of the upper boundary of the ”Triangle” model.
Cryptocurrency Ethereum Forecast March 15 — 19, 2021 implies an attempt to test the support area near the level of 1465.05. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 2205.45. An additional signal in favor of a rise in the Ethereum rate will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 1205.05 area. In this case, we should expect a continuation of the fall with the target below the area of 835.05.