Ethereum ETH/USD ends the trading week at 462.48 and continues to move as part of the growth and formation of the “Triangle” pattern. 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 develop a slight downward correction and a test of the support level near the 405.05 area. Where can we expect a rebound again and continued growth in the rate and value of Ethereum with a potential target above the level of 575.65.
Ethereum Forecast and Analysis November 16 — 20, 2020
An additional signal in favor of raising the ETH/USD quotes in the current trading week on November 16 — 20, 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 border of the ascending channel. Cancellation of the option of growth in the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 325.05. 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 265.05. Confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 510.05, which will indicate a breakdown of the upper border of the “Triangle” model.
Ethereum Forecast and Analysis November 16 — 20, 2020 implies an attempt to test the support area near the level of 405.05. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 575.65. 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 325.05 area. In this case, we should expect a continuation of the decline with a target below the area of 265.05.
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