Ethereum ETH/USD closes the trading week at 189.58 and continues to move as part of the decline and the formation of the bullish «Wolfe Wave» pattern. Moving averages indicate a bearish trend. At the moment, we should expect an attempt to fall and test the support level near the area of 130.00. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 255.00.
Ethereum Forecast and Analysis September 2 — 6, 2019
In favor of raising the ETH/USD quotes for the current trading week September 2 — 6, 2019, a test of the support line on the relative strength index (RSI) will come out. The second signal will be a rebound from the lower boundary of the ascending «Wolfe Wave» model. Cancellation of the growth option will be a fall and a breakdown of the level of 95.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD with a potential target below 65.00. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the resistance area and closing of quotations above the level of 215.00.
Ethereum Forecast and Analysis September 2 — 6, 2019 implies an attempt to test the support area near the level of 130.00. Where can we expect a rebound and continued growth of the cryptocurrency in the region above the level of 255.00. An additional signal in favor of the rise in Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 95.00 area. In this case, we should expect continued decline with a target below the area of 65.00.