The Ethereum cryptocurrency is trading at 1587 and continues to move within the fall and bearish channel. ETH/USD quotes are moving below the lower border of the Ichimoku Kinko Hyo indicator Cloud border. This indicates a bearish trend for Ethereum. As part of the Ethereum price forecast for September 13, 2023. A correction of the digital asset is expected to develop and a test of the signal line area of the Ichimoku Kinko Hyo indicator is expected near the level of 1635. Where can we expect a rebound downwards and an attempt to continue the fall of ETH/USD with a target below the level of 1515.
Ethereum Forecast and Analysis for September 13, 2023
An additional signal in favor of a fall in the cryptocurrency will be a test of the resistance level on the price chart. The second signal will be a rebound from the lower border of the bullish channel. Previously, a weak signal was received for sales of the Ethereum cryptocurrency. The signal was formed due to the intersection of signal lines at the level of 1685. The nearest resistance area for Ethereum is located at the level of 1715. The support area for ETH/USD is located at the level of 1505.
Cancellation of the option for the fall in the value of the Ethereum cryptocurrency will be a strong growth and a breakdown of the upper boundary of the Ichimoku indicator Cloud with the price closing above the level of 1705. This scenario will indicate a change in the bearish trend in favor of a bullish trend and continued growth of the cryptocurrency. Expect an acceleration in the fall of ETH/USD quotes with a breakdown of the support area and closing of the price below the level of 1545.
Ethereum Forecast and Analysis for September 13, 2023 suggests an attempt to develop a correction in the cryptocurrency and a test of the level of 1635. Where can we expect a continuation of the fall of the Ethereum asset with a potential target near the level of 1515. The cancellation of the reduction option will be a strong growth and a breakdown of the 1705 area. This is will indicate a continued rise in the rate of the digital currency ETH against the US Dollar with a potential target above the level of 1855.