Ethereum Forecast and Analysis July 20 — 24, 2020

Ethereum ETH/USD ends the trading week at 231.76 and continues to move as part of the correction and the downward channel. Moving averages indicate a bullish trend for ETH/USD. Prices are bouncing off the area between the signal lines, which indicates pressure from cryptocurrency buyers and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to grow and test the resistance level near the area of ​​250.05. Where can we expect a rebound again and a continued decline in the rate and value of Ethereum with a potential target below the level of 125.05.

Ethereum Forecast and Analysis July 20 — 24, 2020

An additional signal in favor of reducing the ETH/USD quotes in the current trading week July 20 — 24, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the option of falling cryptocurrency value in the current trading week will be strong growth and a breakdown of the level of 265.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 335.00. Confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotations below the level of 195.55.

Ethereum Forecast and Analysis July 20 — 24, 2020 implies an attempt to test the resistance area near the level of 250.05. Where can we expect a rebound and the continuation of the fall of the cryptocurrency to the area below the level of 125.05. An additional signal in favor of a decline in the Ethereum rate will be a test of the resistance line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 265.05 area. In this case, we should expect a continuation of the rise with the target above the area of ​​335.00.

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