Ethereum ends the trading week near the 1645 area. ETH/USD quotes are trading below the lower border of the Ichimoku Kinko Hyo Cloud. This indicates a bearish trend for Ethereum. As part of the digital asset rate forecast for the current week, September 11 — 15, 2023. A test of the area of the signal lines of the Ichimoku Kinko Hyo indicator is expected near the level of 1665. Where can we expect an attempt to rebound downwards and a continuation of the fall of the cryptocurrency with a target at the level of 1375.
Ethereum Forecast September 11 — 15, 2023
An additional signal in favor of a fall in the cryptocurrency will be a test of the resistance level on the coin’s chart. The second signal will be a rebound from the upper border of the bearish 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 1935. The nearest resistance area is located at the level of 1785. The support area for ETH/USD is located at the level of 1535.
Cancellation of the option for the fall in the value of Ethereum will be a breakdown of the upper border of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1815. This will indicate a change in the bearish trend in favor of the bullish trend. Expect an acceleration in the fall of ETH/USD quotes with a breakdown of the support area and closing below the level of 1515.
Ethereum Forecast September 11 — 15, 2023 assumes an attempt to develop a correction to the level of 1665. Where can we expect a rebound and continued fall of the cryptocurrency with a target near the level of 1375. A test of the resistance level on the chart will be in favor of reducing ETH/USD quotes this week prices. Cancellation of the option of falling asset quotes will be a strong growth and a breakdown of the 1815 area. In this case, we should expect a continued rise in Ethereum with a potential target at the level of 2295.
