Ethereum are trading at 4587 and continue to move as part of the growth and left the descending channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $559,052,216,359. Moving averages indicate a short-term bullish trend for Ethereum. Prices went up from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the asset value already from current levels. At the moment, we should expect an attempt to develop a bearish correction in the value of the coin and a test of the support level near the 4440 area. Where again should we expect an upward rebound and a continued rise in the Ethereum rate with a potential target above 5005.
Ethereum Forecast December 1, 2021
An additional signal in favor of the growth of ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel, which was broken up by buyers. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 3905. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 3355. With the breakdown of the resistance area and closing of quotations above the level of 4705, we should expect confirmation of the development of a bullish movement in Ethereum.
Ethereum Forecast December 1, 2021 suggests an attempt to correct and test the support area near the level of 4440. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 5005. An additional signal in favor of the rise of Ethereum will be a test of the line trend on the relative strength index (RSI). Cancellation of the growth option for the digital currency will be a breakdown of the 3905 area. This will indicate a continued decline in the digital currency with a potential target below the level of 3355.