Ethereum ETH/USD are traded at 558 and continue to move within the bearish channel. At this point, we should expect a test of the resistance area near the level of 600. Again, we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 505.
Ethereum (ETH/USD) technical analysis May 31, 2018
In favor of falling quotes ETH/USD will perform a downtrend test on the indicator of relative strength index (RSI). The cancellation of the fall option will be a strong growth and a breakdown of the level of 650, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of the growth of ETH/USD above the level of 750. With the breakdown of the support area and the closing of quotes below the level of 510, one should expect confirmation of the development of the bearish trend in Ethereum.
Ethereum (ETH/USD) technical analysis May 31, 2018 suggests an attempt to test the resistance line near the area of 600, from which it is expected to rebound and continue falling to a region below the level of 505, an additional signal in favor of the Ethereum fall will be a resistance line test on the relative strength index (RSI).
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