Ethereum ETH/USD ends the trading week at 209.11 and continues to move as part of the correction and the upward channel. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to fall and test the support level near the area of 180.00. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 325.00.
Ethereum Forecast and Analysis August 12 — 16, 2019
In favor of raising the ETH/USD quotes for the current trading week, August 12 — 16, 2019, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the growth option will be a fall and a breakdown of the level of 135.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD with a potential target below the level of 105.00. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 275.00.
Ethereum Forecast and Analysis August 12 — 16, 2019 implies an attempt to test the support area near the level of 180.00. Where can we expect a rebound and continued growth of the cryptocurrency in the region above the level of 325.00. An additional signal in favor of the rise in Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the area of 135.00. In this case, we should expect continued decline with a target below the area of 105.00.