The Ethereum cryptocurrency ends the trading week near the area of $3567.42. ETH/USD quotes are trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bullish trend for Ethereum. As part of the forecast of the digital asset exchange rate for the current week, May 10 — 14, 2021. It is expected to test the signal lines of the Ichimoku Kinko Hyo indicator near the level of $2955.05. From where we should expect an attempt to rebound and continue the growth of the cryptocurrency with a goal at the level of $4350.05.
Cryptocurrency Ethereum forecast for the week of May 10-14, 2021
An additional signal in favor of the rise of the cryptocurrency will be a test of the support level. The second signal will be a rebound from the lower border of the bullish channel. Earlier, a strong signal was received for purchases of the Ethereum cryptocurrency. The signal was formed due to the intersection of signal lines at the level of $1670.55. The nearest resistance area is located at the level of $3655.05. The support area for ETH / USD is located at the level of $2535.05.
Cryptocurrency Ethereum signal for the week of May 10-14, 2021
The cancellation of the option of increasing the value of Ethereum will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of $1575.05. This will indicate a change in the bullish 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 a close above the level of $3855.05.
Thus, the Ethereum exchange rate forecast for the week of May 10 — 14, 2021 suggests an attempt to develop a correction to the level of $2955.05. From where we can expect a rebound and continued growth of the cryptocurrency with a goal near the level of $4350.05. In favor of the rise in ETH/USD quotes this week, a test of the support level will act. The cancellation of the option of growth of the asset quotes will be a fall and a breakdown of the area of 1575.05. In this case, we should expect the continued growth of Ethereum with a potential target at $995.05.