Ethereum Forecast and ETH/USD Analysis April 17, 2020

ETH/USD are trading at 168.55 and continue to move as part of the correction and the upward channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $18 892 027 567. Moving averages indicate the presence of a short-term bearish trend for Ethereum. Prices pierced the area between the signal lines up, which indicates pressure from buyers. At the moment, we should expect an attempt to increase the value of the coin and test the resistance level near the area of ​​180.65. Where again we should expect a rebound and the continuation of the Ethereum rate drop with a potential target below the level of 105.05.

Ethereum Forecast and ETH/USD Analysis April 17, 2020

An additional signal in favor of a drop in ETH/USD quotes will be a test of a downward trend 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 option of falling cryptocurrency will be a strong growth and the breakdown of the level of 205.05. This will indicate a breakdown of the upper border of the downward channel and continued growth of ETH/USD quotes above the level of 245.05. With the breakdown of the support area and closing of quotes below 130.05, we should expect confirmation of the development of a decline in Ethereum.

Ethereum Forecast and ETH/USD Analysis April 17, 2020 implies an attempt to correct and test the resistance area near the level of 180.65. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 105.05. An additional signal in favor of Ethereum’s fall will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of reducing the digital currency will be a breakdown of the area of ​​205.05. What will indicate the continuation of the rise with a potential target above the level of 245.05.

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