Ethereum ETH/USD ends the trading week at 3277 and continues to move within the correction and bullish channel. Moving averages indicate the presence of a bullish trend for ETH/USD. Prices returned to the area between the signal lines, which indicates pressure from cryptocurrency buyers and a potential continuation of growth 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 3865. Where can we expect a rebound again and a continued fall in the exchange rate and the cost of Ethereum with a potential target below the level of 2155.
Ethereum Weekly Forecast January 17 — 21, 2022
An additional signal in favor of falling ETH/USD quotes in the current trading week January 17 — 21, 2022 will be a test of the downtrend line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the Head and Shoulders reversal pattern. 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 4955. 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 5805. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 2605.
Ethereum Weekly Forecast January 17 — 21, 2022 suggests an attempt to decrease and test the resistance area near the level of 3865. Where should we expect a rebound and the cryptocurrency will continue to fall to the area below the level of 2155. An additional signal in favor of Ethereum’s 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 area of 4955. In this case, we should expect a continuation of the rise with a target above the area of 5805.