Ethereum ETH/USD closes the trading week at 208.66 and continues to move as part of strong growth and a downward channel. Moving averages indicate the presence of a lateral trend for ETH/USD. Prices have pierced the area between the signal lines up, which indicates pressure from cryptocurrency buyers. At the moment, we should expect an attempt to grow and test the resistance level near the area of 240.65. Where again we should expect a rebound and continued decline in the rate and cost of Ethereum with a potential target below the level of 85.05.
Ethereum Forecast and Analysis May 11 — 15, 2020
An additional signal in favor of reducing the ETH/USD quotes for the current trading week May 11 — 15, 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 275.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 345.00. A confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below 165.05.
Ethereum Forecast and Analysis May 11 — 15, 2020 implies an attempt to test the resistance area near the level of 240.65. Where can we expect a rebound and the continuation of the fall of cryptocurrency to the area below the level of 85.05. 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 275.05. In this case, we should expect the continuation of the rise with the target above the area of 345.00.
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