Ethereum ETH/USD are trading at 214.62 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $23 336 429 700. Moving averages indicate a short-term bearish trend in Ethereum. At the moment, we should expect an attempt to fall and a test of the support level near the area of 200.00. Where can we again expect a rebound and continuation of the growth rate of Ethereum with a potential target above the level of 295.00.
Ethereum Forecast and ETH/USD Analysis August 1, 2019
An additional signal in favor of the growth of ETH/USD quotes will be the test of the support line on the relative strength indicator. The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the growth of cryptocurrency will be the fall and the breakdown level of 185.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD quotes below 145.00. With the breakdown of the resistance area and the closure of quotes above the level of 235.00, we can expect an acceleration of the bullish trend in Ethereum.
Ethereum Forecast and ETH/USD Analysis August 1, 2019 involves an attempt to test the support area near the level of 200.00. Where can we expect a rebound and the continuation of growth of cryptocurrency ETH/USD in the region above the level of 295.00. An additional signal in favor of Ethereum growth will be a test of the trend line on the relative strength indicator. The cancellation of the option of raising the digital currency will be the breakdown of the area of 185.00. That will indicate the continuation of the fall with a potential target below the level of 145.00.
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