ETH/USD are trading at 139.26 and continue to move as part of the decline and the formation of the Triangle model. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $15 505 116 920. Moving averages indicate the presence of a short-term bearish trend for Ethereum. At the moment, we should expect an attempt to drop the value of the coin and test the support level near the area of 140.85. Where again we should expect a rebound and the continuation of the Ethereum rate drop with a potential target below the level of 132.45.
Ethereum Forecast and ETH/USD Analysis December 17, 2019
An additional signal in favor of a fall in ETH/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the level of 142.05. This will indicate a breakdown of the resistance area and continued growth of the ETH/USD quotes above the level of 150.05. With the breakdown of the support area and closing of quotes below 135.05, we should expect confirmation of the development of a decline in Ethereum.
Ethereum Forecast and ETH/USD Analysis December 17, 2019 implies an attempt to correct and test the resistance area near the level of 140.85. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 132.45. An additional signal in favor of Ethereum’s fall will be a test of the trend line on the relative strength index (RSI). The cancellation of the option to reduce the digital currency will be the breakdown of the area of 142.05. Which will indicate continued growth with a potential target above the level of 150.05.
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