ETH/USD are trading at 161.41 and continue to move as part of the growth and upward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $18 037 423 963. Moving averages indicate the presence of a short-term bullish trend for Ethereum. Prices pushed from the area between the signal lines, indicating pressure from buyers. At the moment, we should expect an attempt to drop the value of the coin and test the support level near the area of 145.65. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 185.05.
Ethereum Forecast and ETH/USD Analysis April 7, 2020
An additional signal in favor of an increase in ETH/USD quotes will be an uptrend test on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the ascending channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 140.05. This will indicate a breakdown of the lower boundary of the upward channel and the continuation of the fall of ETH/USD quotes below the level of 105.05. With the breakdown of the resistance area and the closing of quotes above the level of 175.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis April 7, 2020 implies an attempt to correct and test the support area near the level of 145.65. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 185.05. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of raising a digital currency will be a breakdown of the area of 140.05. That will indicate a continued decline with a potential target below the level of 105.05.
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