Ethereum ETH/USD closes the trading week at 138.90 and continues to move as part of the fall and the formation of the bullish «Wolfe Wave» pattern. Moving averages indicate a bearish trend for ETH/USD. Prices have broken down the area between the signal lines, which indicates pressure from cryptocurrency sellers. At the moment, we should expect an attempt to reduce and test the support level near the area of 70.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 170.05.
Ethereum Forecast and Analysis April 6 — 10, 2020
An additional signal in favor of raising the ETH/USD quotes for the current trading week April 6 — 10, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the downward channel. Cancellation of the growth option will be a fall and a breakdown of the level of 50.05. This will indicate a breakdown of the support area and a continued fall of ETH/USD with a potential target below the level of 20.05. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 145.00.
Ethereum Forecast and Analysis April 6 — 10, 2020 implies an attempt to test the support area near the level of 70.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 170.05. An additional signal in favor of the rise in the Ethereum course will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 50.05. In this case, we should expect continued decline with a target below the area of 20.05.
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