ETH/USD are trading at 146.00 and continue to move as part of the decline and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $16 093 745 106. 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 130.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 185.05.
Ethereum Forecast and ETH/USD Analysis December 3, 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 the completion of the formation of the «Double Bottom» reversal pattern. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 115.05. This will indicate a breakdown of the support area and a continued decline in the ETH/USD quotes below the level of 105.05. With the breakdown of the resistance area and the closing of quotes above 165.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis December 3, 2019 implies an attempt to correct and test the support area near the level of 130.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 185.05. An additional signal in favor of the rise in Ethereum will be a test of the trend line on the relative strength index (RSI). The cancellation of the digital currency growth option will be a breakdown of the area of 115.05. That will indicate a continued fall with a potential target below the level of 105.05.
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