Ethereum ETH/USD ends the trading week at the level of 2029 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 2475. From where we should again expect a rebound down and a continuation of the fall in the exchange rate and the cost of Ethereum with a potential target below the level of 855.
An additional signal in favor of falling ETH/USD quotes in the current trading week May 23 — 27, 2022 will be a trend resistance test on the relative strength index (RSI). The second signal will be a rebound from the lower border of the bullish 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 2855. 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 3605. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level 1655.
Ethereum Weekly Forecast May 23 — 27, 2022 suggests an attempt to decrease and test the resistance area near the level of 2475. Where should we expect a rebound and a continuation of the fall of the cryptocurrency to the area below the level of 855. 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 area of 2855. In this case, we should expect continued growth with a target above the area of 3605.