Ethereum ETH/USD closes the trading week at 166.35 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 the fall and test the support level near the area of 155.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 290.05.
Ethereum Forecast and Analysis October 28 — November 1, 2019
An additional signal in favor of the growth of ETH/USD quotes for the current trading October 28 — November 1, 2019 will be a test of the rising 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 155.00. 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 105.00. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the upper border of the downward channel and closing quotes above the level of 225.05.
Ethereum Forecast and Analysis October 28 — November 1, 2019 implies an attempt to test the support area near the level of 155.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region above the level of 290.05. 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 155.00. In this case, we should expect continued decline with a target below the area of 105.00.
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