Ethereum quotes at the time of writing a forecast for tomorrow 01/12/2021 are at $ 970.
The cryptocurrency pair is correcting in relation to the upward trend of the previous days. The price broke through the Ichimoku cloud and consolidated below it, which indicates a possible change in the trend from upward to downward.
As for the signal lines of the indicator, it is not possible to read their readings at the moment, since they have merged into one.
If the ETH / USD quotes cannot overcome the resistance level above 1000, the Ethereum rate will continue to decline, with a target of $ 850 per ether.
If the Ichimoku cloud breaks through from the bottom up, Ethereum quotes will tend to gain a foothold above the 1230 mark. For this, the cryptocurrency will also need to overcome the resistance level 1130 - the upper border of the Ichimoku cloud.
Thus, the forecast for the Ethereum exchange rate for 01/12/2021 assumes a short-term growth of the Ethereum cryptocurrency and an attempt by ETH / USD to gain a foothold above the $ 1130 level.