Ethereum ETH/USD ends the trading week at 4394 and continues to move as part of the correction and the bullish channel. Moving averages indicate a bullish trend for ETH/USD. Prices went up from the area between the signal lines, which indicates pressure from cryptocurrency buyers and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a price correction and a test of the support level near the 3905 area. Where can we expect a rebound and a continuation of the rise in the rate and value of Ethereum with a potential target above the level of 5255.
Ethereum Weekly Forecast December 6 — 10, 2021
An additional signal in favor of raising the ETH/USD quotes in the current trading week on December 6 — 10, 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 cryptocurrency value in the current trading week will be a fall and a breakdown of the level of 3205. 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 2605. Confirmation of the rise in the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotes above the level of 4755.
Ethereum Weekly Forecast December 6 — 10, 2021 assumes an attempt to reduce and test the support area near the level of 3905. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 5255. An additional signal in favor of the rise in the Ethereum rate will be a test of the trend line on the indicator relative strength. Cancellation of the growth option will be a fall and a breakdown of the area of 3205. In this case, we should expect a continuation of the decline with a target below the area of 2605.