Ethereum Forecast and Analysis July 27 — 31, 2020


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Ethereum ETH/USD ends the trading week at 269.59 and continues to move as part of the growth. Moving averages indicate a bullish trend for ETH/USD. Prices went up from 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 correct and test the support level near the 245.05 area. Where can we expect a rebound and continued growth in the rate and value of Ethereum with a potential target above the level of 365.55.

Ethereum Forecast and Analysis July 27 — 31, 2020

An additional signal in favor of reducing the ETH/USD quotes in the current trading week July 27 — 31, 2020 will be a test of the support 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 for the growth of the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 195.55. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes with a potential target below the level of 165.05. Confirmation of the growth of the Ethereum cryptocurrency will be the breakdown of the resistance area and closing of quotations above the level of 300.55.

Ethereum Forecast and Analysis July 27 — 31, 2020

Ethereum Forecast and Analysis July 27 — 31, 2020 implies an attempt to test the support area near the level of 245.05. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 365.55. An additional signal in favor of a rise in the Ethereum rate 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 195.55 area. In this case, we should expect a continuation of the decline with a target below the area of ​​165.05.


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