Ethereum ETH/USD traded at 440 and continue to move within the «Triangle» model. At this point, we should expect an attempt to test the resistance level near the 450 area. Where again we should expect a rebound and the continued fall of the Ethereum rate with a target below the level of 420.
Ethereum (ETH/USD) technical analysis August 1, 2018
In favor of the growth of quotations ETH/USD will test the upward trend line on the indicator of relative strength index (RSI). Canceling the variant of the fall of the cryptocurrency will be a strong growth and breakdown at level 465, which will indicate the breakdown of resistance and the continuation of the growth of ETH/USD above 485. With the breakdown of the support area and the closing of quotes below 435, it is necessary to confirm the development of a downward trend in Ethereum.
Ethereum (ETH/USD) technical analysis August 1, 2018 suggests an attempt to test the resistance area near the 450 level, from which it is expected to rebound and continue decreasing the ETH/USD cryptocurrency in the area below the level of 420, an additional signal in favor of the Ethereum fall will test the resistance line on the indicator of relative strength index (RSI).