Ethereum completes the trading week near the 1471 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 forecast for the digital asset price for the current week September 19 — 23, 2022. A test of the lower border of the Ichimoku Kinko Hyo Indicator Cloud near the level of 1565 is expected.
Forecast Ethereum September 19 — 23, 2022
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level on the coin chart. The second signal will be a rebound from the lower boundary of the bullish channel, which was broken down by the sellers of the coin. Earlier, a signal of medium strength was received for purchases 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 is at the level of 1745. The support area for ETH/USD is at the level of 955.
Cancellation of the option to fall in the value of Ethereum will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 1805 area. 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 1355.
Forecast Ethereum September 19 — 23, 2022 suggests an attempt to develop a correction to the level of 1565. Where should we expect a rebound and a continuation of the fall of the cryptocurrency with a target near the level of 765. A test of the resistance level on the chart will come out in favor of lowering ETH/USD quotes this week prices. Cancellation of the option of falling asset quotes will be a strong growth and a breakdown of the 1805 area. In this case, we should expect Ethereum to continue to rise with a potential target at the level of 2105.