Ethereum ETH/USD closes the trading week at 169.51 and continues to move as part of the correction and the bearish 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 the continuation of the Ethereum rate drop with a potential target below the level of 100.05.
Ethereum Forecast and Analysis October 21 — 25, 2019
An additional signal in favor of a drop in ETH/USD quotes in the current trading week October 21 — 25, 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 level of 225.00. This will indicate a breakdown of the resistance area and continued growth of ETH/USD with a potential target above 265.00. 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 140.05.
Ethereum Forecast and Analysis October 21 — 25, 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 100.05. 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 225.00. In this case, we should expect the continuation of the rise with the target above the area of 265.00.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link