Ethereum ETH/USD closes the trading week at 219.63 and continues to move as part of the correction. 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. At the moment, we should expect an attempt to reduce and test the support level near the area of 190.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above 365.05.
Ethereum Forecast and Analysis March 2 — 6, 2020
An additional signal in favor of raising the ETH/USD quotes for the current trading week on March 2 — 6, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. The cancellation of the growth option will be a fall and a breakdown of the level of 165.05. This will indicate a breakdown of the support area and the continuation of the fall of ETH/USD with a potential target below the level of 105.05. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 275.05.
Ethereum Forecast and Analysis March 2 — 6, 2020 implies an attempt to test the support area near the level of 190.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 365.05. 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 area of 165.05. In this case, we should expect continued decline with a target below the area of 105.05.
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