ETH/USD are traded at 411.16 and continue to move within the correction and the ascending channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $46 561 432 576. Moving averages indicate a short-term bullish trend for Ethereum. Prices are again testing the area between the signal lines upwards, which indicates pressure from buyers and a potential continuation of the rise in the asset value from the current levels. At the moment, we should expect an attempt to correct the value of the coin and test the support level near the 365.55 area. Where can we expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 505.05.
Ethereum Forecast and ETH/USD Analysis August 21, 2020
An additional signal in favor of the growth of ETH/USD quotes will be a test of the rising trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option for the growth of cryptocurrency will be a fall and a breakdown of the level of 345.05. This will indicate a breakdown of the lower border of the ascending channel and the continuation of the fall in ETH/USD quotes below the level of 310.05. With the breakdown of the resistance area and closing of quotations above the level of 460.05, we should expect confirmation of the development of growth in Ethereum.
Ethereum Forecast and ETH/USD Analysis August 21, 2020 suggests an attempt to correct and test the support area near 365.55. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 505.05. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the digital currency growth option will be a breakdown of the 345.05 area. This will indicate a continued fall with a potential target below the level of 310.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link