Ethereum ETH/USD closes the trading week at 228.47 and continues to move as part of the correction and the downward channel. Moving averages indicate a bullish trend for ETH/USD. Prices have gone far up from the area between the signal lines, which indicates pressure from cryptocurrency buyers and a potential continuation of growth. At the moment, we should expect an attempt to grow and test the resistance level near the area of 250.05. Where again we should expect a rebound and a continued decline in the rate and cost of Ethereum with a potential target below 125.55.
Ethereum Forecast and Analysis June 29 — July 3, 2020
An additional signal in favor of reducing the ETH/USD quotes for the current trading week June 29 — July 3, 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 boundary of the downward channel. Cancellation of the option of falling cryptocurrency value in the current trading week will be a strong growth and the breakdown 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 325.00. A 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 June 29 — July 3, 2020 involves 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 cryptocurrency to the area below the level of 125.55. An additional signal in favor of the depreciation of Ethereum 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 area of 265.05. In this case, we should expect the continuation of the rise with the target above the area of 325.00.
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