Ethereum ETH/USD are trading at 241.33 and continue to move within the correction and the bullish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $25 929 522 280. Moving averages indicate the presence of a short-term upward trend in Ethereum. At the moment, we should expect an attempt to decrease and test the lower boundary of the ascending channel near area 235. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 305.
Ethereum Forecast and ETH/USD Analysis June 7, 2019
An additional signal in favor of the growth of ETH/USD quotes will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the bullish channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 205. This will indicate a breakdown of the lower boundary of the channel and the continuation of the drop in ETH/USD quotes below the level of 185. With the breakdown of the resistance area and the closing of the quotes above the level of 285, we should expect an acceleration of the upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis June 7, 2019 implies an attempt to test the support area near the level of 235. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 305. An additional signal in favor of the rise of Ethereum is a test of the trend line on relative strength index (RSI). The breakdown of the digital currency growth option will be disrupted by the area 205. This will indicate a continuation of the fall with a potential target below the level of 185.
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