Ethereum ETH/USD ends the trading week at 292.47 and continues to move through the growth and upward channel. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to fall and maintain the test level near the area of 245.00. Where can we expect a rebound again and the continuation of the growth rate of Ethereum with a potential target above the level of 580.00.
Ethereum Forecast and Analysis July 8 — 12, 2019
A test of the upward support line on the relative strength indicator will be in favor of lifting the ETH/USD quotes on the current trading week July 8 — 12, 2019. The second signal will be a rebound from the lower lower boundary of the rising channel. Cancellation of the growth option will be the fall and the breakdown of the level of 210.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD with a potential target below 155.00. Confirmation of the growth of the cryptocurrency Ethereum will make a breakdown of the resistance area and closing quotes above the level of 365.00.
Ethereum Forecast and Analysis July 8 — 12, 2019 implies an attempt to test the support area near the level of 245.00. Where can we expect a rebound and continued growth of cryptocurrency in the region above the level of 580.00. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the growth option will be the fall and the breakdown of the 210.00 area. In this case, we should expect a continuation of the decline with the goal below the area of 155.00.