The Ethereum cryptocurrency is trading at 3446 and continues to move within the development of growth and a bearish channel. ETH/USD quotes are moving inside the Cloud of the Ichimoku Kinko Hyo indicator. This indicates a sideways trend for Ethereum. As part of the Ethereum rate forecast for March 27, 2024. The development of a rise in the digital asset and a test of the lower boundary of the Cloud of the Ichimoku Kinko Hyo indicator near the level of 3365 are expected. Where can we expect a rebound upward and an attempt to continue the growth of ETH/USD with a target above the level of 4075.
Ethereum Forecast and Analysis for March 27, 2024
An additional signal in favor of cryptocurrency growth will be a test of the support level on the price chart. The second signal will be a rebound from the upper border of the bearish channel. Previously, a weak signal was received for purchases of the Ethereum cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 3355. The nearest resistance area for Ethereum is located at the level of 3675. The support area for ETH/USD is located at the level of 3265.
Cancellation of the option to increase the value of the Ethereum cryptocurrency will be a fall and breakdown of the lower boundary of the Ichimoku indicator Cloud with the price closing below the level of 3195. This scenario will indicate a change in the sideways trend in favor of a bearish trend and a continuation of the fall of the cryptocurrency. Expect an acceleration in the growth of ETH/USD quotes with a breakdown of the resistance area and closing of the price above the level of 3705.
Ethereum Forecast and Analysis for March 27, 2024 suggests an attempt to develop a bearish correction of the cryptocurrency and a test of the level of 3365. Where can we expect continued growth of the Ethereum asset with a potential target near the level of 4075. The cancellation of the rise option will be a fall and a breakdown of the 3195 area. This will indicate a continued decline in the exchange rate of the digital currency ETH against the US Dollar with a potential target below the level of 2665.
