Ethereum ETH/USD closes the trading week at 126.16 and continues to move as part of the fall and the formation of the reversal pattern «Wedge». Moving averages indicate a bearish trend for ETH/USD. At the moment, we should expect an attempt to continue to decline and test the support level near the area of 110.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 235.05.
Ethereum Forecast and Analysis December 23 — 27, 2019
An additional signal in favor of raising the ETH/USD quotes for the current trading week December 23 — 27, 2019 will be a test of the rising 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 80.05. This will indicate a breakdown of the support area and a continued fall of ETH/USD with a potential target below 55.05. 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 145.05.
Ethereum Forecast and Analysis December 23 — 27, 2019 implies an attempt to test the support area near the level of 110.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 235.05. 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 80.05 area. In this case, we should expect continued decline with a target below 55.05.
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