Ethereum (ETH/USD) technical analysis August 8, 2018


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Ethereum ETH/USD are traded at 406 and continue to move within the limits of the decline. At this point, we should expect a test of 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 365.

Ethereum (ETH/USD) technical analysis August 8, 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 425, which will indicate the breakdown of the upper boundary of the model and the continuation of the growth of ETH/USD above the level of 490. With the breakdown of the lower bound of the «Triangle» model 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 8, 2018

Ethereum (ETH/USD) technical analysis August 8, 2018 suggests an attempt to test the resistance area near the level of 425, from which it is expected to rebound and continue the decline of the ETH/USD cryptocurrency in the area below the level of 365, 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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