Ethereum completes the trading week near the 1702 area. ETH/USD quotes are traded inside the Ichimoku Kinko Hyo Cloud. This indicates the presence of a sideways trend in Ethereum. As part of the forecast for the digital asset price for the current week September 12 — 16, 2022. A test of the lower border of the Ichimoku Kinko Hyo Indicator Cloud near the level of 1575 is expected.
Forecast Ethereum September 12 — 16, 2022
An additional signal in favor of the rise of the cryptocurrency will be a test of the support level on the coin chart. The second signal will be a rebound from the lower border of the bullish channel. 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 1735. The nearest area of resistance is at the level of 2085. The area of support for ETH/USD is at the level of 1425.
Cancellation of the growth option for Ethereum will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the 1205 area. This will indicate a change in the side 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 1915.
Forecast Ethereum September 12 — 16, 2022 2 suggests an attempt to develop a correction to the level of 1575. Where should we expect a rebound and continued growth of the cryptocurrency with a target near the level of 2405. In favor of the rise in ETH/USD quotes this week, a test of the support level on the chart will come out prices. Cancellation of the growth option for asset quotes will be a fall and a breakdown of the 1205 area. In this case, we should expect Ethereum to continue to decline with a potential target at the level of 855.
