Ethereum ends the trading week near the 3520 area. ETH/USD quotes are traded inside the Ichimoku Kinko Hyo Cloud. This indicates a sideways trend for Ethereum. As part of the digital asset rate forecast for the current week, April 15 — 19, 2024. A test of the area of the signal lines of the Ichimoku Kinko Hyo indicator is expected near the level of 3485. Where can we expect an attempt to rebound upward and continued growth of the cryptocurrency with a target at the level of 4475.
Ethereum Forecast April 15 — 19, 2024
An additional signal in favor of cryptocurrency growth will be a test of the support level on the coin’s 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 3505. The nearest resistance area is located at the level of 4125. The support area for ETH/USD is located at the level of 3265.
Cancellation of the option to increase the cost of Ethereum will be a breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with closing quotes below the area of 2905. This will indicate a change in the sideways trend in favor of a bearish trend. Expect an acceleration in the growth of ETH/USD quotes with a breakdown of the resistance area and closing above the level of 3865.
Ethereum Forecast April 15 — 19, 2024 assumes an attempt to develop a correction to the level of 3485.
Where can we expect a rebound and continued growth of the cryptocurrency with a target near the level of 4475. A test of the support level on the chart will be in favor of the growth of ETH/USD quotes this week prices. Cancellation of the option for the growth of asset quotes will be a fall and a breakdown of the area of 2905. In this case, we should expect a continuation of the decline in Ethereum with a potential target at the level of 2135.
