Ethereum ETH/USD ends the trading week at 217.68 and continues to move as part of the correction and the rising 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 195.00. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 360.00.
Ethereum Forecast and Analysis August 5 — 9, 2019
In favor of raising the ETH/USD quotes for the current trading week, August 5 — 9, 2019, a test of the rising support line on the relative strength index (RSI) will be made. 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 170.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD with a potential target below the level of 145.00. 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 255.00.
Ethereum Forecast and Analysis August 5 — 9, 2019 implies an attempt to test the support area near the level of 195.00. Where can we expect a rebound and continued growth of the cryptocurrency in the region above the level of 360.00. 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 170.00. In this case, we should expect continued decline with a target below the area of 145.00.