The Ethereum cryptocurrency completes the trading week near the 2598 area. ETH/USD quotes are trading below the lower border of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend in Ethereum. As part of the Price Prediction for the digital asset price for the current week March 7 — 11, 2022. A test of the lower border of the Ichimoku Kinko Hyo Indicator Cloud near the level of 2835 is expected.
Ethereum Price Prediction for March 7 — 11, 2022
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level. The second signal will be a rebound from the upper border of the Triangle pattern. Earlier, a signal of medium strength 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 2805. The nearest area of resistance is at the level of 3305. The area of support for ETH/USD is at the level of 1905.
Ethereum price forecast for March 7 — 11, 2022
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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 3405 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 1905, and this will indicate a breakdown of the lower border of the “Triangle” model.
Thus, the Ethereum exchange rate Price Prediction for March 7 — 11, 2022 suggests an attempt to develop a correction to the level of 2835. Where should we expect a rebound and a continuation of the fall of the cryptocurrency with a target near the level of 965. In favor of lowering ETH/USD quotes this week, a test of the resistance level on the chart will come out prices. Cancellation of the option of falling asset quotes will be a strong growth and a breakdown of the 3405 area. In this case, we should expect Ethereum to continue to rise with a potential target at the level of 4205.