The Ethereum cryptocurrency is trading at the level of 1608 and continues to move as part of the correction and the formation of the “Triangle” pattern. ETH/USD quotes are moving above the upper border of the Ichimoku Kinko Hyo Cloud. This indicates a bullish trend for Ethereum. As part of the Ethereum exchange rate forecast for September 9, 2022. A correction of the digital asset is expected to develop and a test of the lower boundary of the Ichimoku Kinko Hyo Cloud near the level of 1535. Where should we expect a rebound and an attempt to continue the growth of ETH/USD with a target above the level of 1985.
Ethereum Forecast and Analysis September 9, 2022
An additional signal in favor of the growth of the cryptocurrency will be a test of the support level on the price chart. The second signal will be a rebound from the lower border of the Triangle model. Earlier, a weak signal was received for the sale of the Ethereum cryptocurrency. The signal was formed due to the crossing of the signal lines at the level of 1565. The nearest resistance area for Ethereum is at the level of 1685. The ETH/USD support area is at the level of 1450.
Cancellation of the option of growth in the value of the Ethereum cryptocurrency will be a fall and a breakdown of the lower boundary of the Ichimoku indicator Cloud with the price closing below the level of 1425. Such a scenario will indicate a change in the bullish trend in favor of a bearish trend and the continued fall of the cryptocurrency. It is worth expecting an acceleration in the growth of ETH/USD quotes with a breakdown of the resistance area and closing the price above the level of 1735, which will indicate a breakdown of the upper border of the “Triangle” model.
Ethereum Forecast and Analysis September 9, 2022 suggests an attempt to develop a cryptocurrency correction and a test of the level of 1535. Where should we expect the Ethereum asset to continue to grow with a potential target near the level of 1985. to continue the depreciation of the digital currency ETH against the US Dollar with a potential target below the level of 1205.