Ethereum ETH/USD are traded at the level of 274 and continue to move within the framework of the formation of the «Triangle» model. Capitalization of the cryptocurrency at the time of publication of the forecast is $ 28 167 616 297. At this point, we should expect a test of the resistance level near area 280. Again, we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 235.
Ethereum (ETH/USD) technical analysis August 28, 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 a breakdown of the level of 295, which will indicate the breakdown of the upper limit of the «Triangle» model and the continuation of the growth of ETH/USD above the level of 365. With the breakdown of the support area and the closing of quotes below 255 it is necessary to confirm the confirmation of the development of the bearish movement in Ethereum.
Ethereum (ETH/USD) technical analysis August 28, 2018 suggests an attempt to test the resistance area near the level of 285, from which it is expected to rebound and continue falling of the ETH/USD cryptocurrency in the area below the level of 240, an additional signal in favor of the Ethereum fall will be a resistance line test at indicator of relative strength index (RSI), the cancellation of the variant of the fall of the digital currency will be the breakdown of the area 295.
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