ETH/USD are trading at 130.46 and continue to move as part of the correction and the beginning of the development of the bullish «Wolfe Wave» model. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $14 554 208 117. 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 120.65. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 165.05.
Ethereum Forecast and ETH/USD Analysis December 31, 2019
An additional signal in favor of the rise in 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 a downtrend. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 95.05. This will indicate a breakdown of the support area and the continuation of the fall of ETH/USD quotes below 65.05. With the breakdown of the resistance area and the closing of quotations above 140.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis December 31, 2019 implies an attempt to correct and test the support area near the level of 120.65. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 165.05. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of raising a digital currency will be a breakdown of the area of 95.05. Which will indicate a continued fall with a potential target below the level of 65.05.
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