ETH/USD are trading at 237.60 and continue to move in the framework of the lower and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $25 502 414 878. Moving averages indicate the presence of a short-term bearish trend for Ethereum. Prices have gone far below the area between the signal lines, indicating pressure from sellers. At the moment, we should expect an attempt to reduce the value of the coin and test the support level near the area of 230.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 305.05.
Ethereum Forecast and ETH/USD Analysis February 27, 2020
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 the lower boundary of the downward channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 215.05. This will indicate a breakdown of the lower border of the rising channel and the continuation of the fall of ETH/USD quotes below the level of 175.55. With the breakdown of the resistance area and closing of quotations above the level of 305.05, we should expect confirmation of the development of growth according to Ethereum, this will indicate a breakdown of the upper border of the downward channel.
Ethereum Forecast and ETH/USD Analysis February 27, 2020 implies an attempt to correct and test the support area near the level of 230.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 305.05. 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 215.05. Which will indicate a continuation of the fall with a potential target below the level of 175.55.
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