Ethereum ETH/USD are trading at 211.76 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 $22 895 613 545. Moving averages indicate the presence of a short-term bearish trend for Ethereum. At the moment, we should expect an attempt to fall and test the support level near the area of 200.00. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above 265.00.
Ethereum Forecast and ETH/USD Analysis August 2, 2019
An additional signal in favor of the growth of ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 185.00. This will indicate a breakdown of the support area and a continued decline in ETH/USD quotes below the level of 145.00. With the breakdown of the resistance area and the closing of quotations above the level of 235.00, we can expect acceleration of the development of the bullish trend in Ethereum.
Ethereum Forecast and ETH/USD Analysis August 2, 2019 implies an attempt to test the support area near the level of 200.00. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 265.00. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of raising the digital currency will be the breakdown of the area of 185.00. Which will indicate a continuation of the fall with a potential target below the level of 145.00.
