Ethereum (ETH/USD) technical analysis August 7, 2018


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Ethereum ETH/USD traded at 406 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 415. Where again we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 360.

Ethereum (ETH/USD) technical analysis August 7, 2018

In favor of falling quotations ETH/USD will form a reversal model «Head and Shoulders» 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 435, which will indicate the breakdown of resistance and the continuation of the growth of ETH/USD above 490. With the breakdown of the lower limit of the triangle and the closing of quotes below 390, it is necessary to confirm the development of a bearish trend in Ethereum.

Ethereum (ETH/USD) technical analysis August 7, 2018

Ethereum (ETH/USD) technical analysis August 7, 2018 suggests an attempt to test the resistance area near the level 415, from which it is expected to rebound and continue the decline of the ETH/USD cryptocurrency in the area below the level of 360, an additional signal in favor of the Ethereum fall will test the resistance line on the indicator of relative strength index (RSI).


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