Ethereum ETH/USD traded at the level of 420 and continue to move within the limits of the decline. At this point, we should expect an attempt to test the resistance level near the area of 435. Where again we should expect a rebound and the continued fall of the Ethereum rate with a target below the level of 390.
Ethereum (ETH/USD) technical analysis August 2, 2018
In favor of falling quotes ETH/USD will perform a downtrend test on the indicator of relative strength index (RSI). Canceling the variant of the fall of the cryptocurrency will be a strong growth and breakdown of the level of 450, which will indicate the breakdown of resistance and the continuation of the growth of ETH/USD above the level of 485. With the breakdown of the support area and the closing of quotes below 405, it is necessary to confirm the development of a bearish trend in Ethereum.
Ethereum (ETH/USD) technical analysis August 2, 2018 suggests an attempt to test the resistance area near the level of 435, from which it is expected to rebound and continue the decline of the cryptocurrency ETH/USD in the area below the level of 390, an additional signal in favor of the Ethereum fall will test the resistance line on the indicator of relative strength index (RSI).