Ethereum ETH/USD closes the trading week at 178.77 and continues to move as part of the correction and the downward channel. Moving averages indicate a bearish trend for ETH/USD. At the moment, we should expect an attempt to continue growth and test the resistance level near the area of 185.05. Where again we should expect a rebound and a continuation of the Ethereum rate drop with a potential target below the level of 115.05.
Ethereum Forecast and Analysis November 4 — 8, 2019
An additional signal in favor of reducing the ETH/USD quotes for the current trading week November 4 — 8, 2019 will be a test of the downward 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 fall option will be a strong growth and the breakdown of the level of 215.50. This will indicate a breakdown of the resistance area and continued growth of ETH/USD with a potential target above 245.00. A confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below the level of 148.05.
Ethereum Forecast and Analysis November 4 — 8, 2019 implies an attempt to test the resistance area near the level of 185.05. Where can we expect a rebound and the continuation of the fall of cryptocurrency to the area below the level of 115.05. 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 215.50. In this case, we should expect the continuation of the rise with the target above the area of 245.00.
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