Ethereum price (ETHUSD) forecast update - 01-05-2024
Economies.com
2024-05-01 10:07AM UTC
Ethereum Price Analysis: Expected Scenarios
Ethereum price (ETHUSD) managed to break 2905.30$ level and closed the last four hours’ candlestick below it, reinforcing the expectations of continuing the domination of the bearish trend in the upcoming sessions, as it approached our waited target at 2800.00$, and we suggest extending the bearish wave to achieve additional negative targets that reach 2625.00$.
- Bearish trend scenario
Therefore, we will continue to suggest the bearish trend for today, noting that holding below 2905.30$ represents the first condition to the continuation of the expected decline.
- Bearish trend continuation
The expected trading range for today is between 2760.00$ support and 2980.00$ resistance.
Trend forecast: Bearish
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