ETH/USD are trading at 170.44 and continue to move as part of the growth and upward channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $18 739 136 167. 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 153.85. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 205.05.
Ethereum Forecast and ETH/USD Analysis April 8, 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 143.05. This will indicate a breakdown of the lower boundary of the rising channel and the continuation of the fall of ETH/USD quotes below 110.55. With the breakdown of the resistance area and the closing of quotations above the level of 180.55, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis April 8, 2020 implies an attempt to correct and test the support area near the level of 153.85. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 205.05. 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 143.05. Which will indicate a continued decline with a potential target below 110.55.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
