ETH/USD are trading at 227.17 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 $25 376 694 287. 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 increase the value of the coin and test the resistance level near the area of 240.05. Where again we should expect a rebound and a continued decline in the Ethereum rate with a potential target below the level of 175.05.
Ethereum Forecast and ETH/USD Analysis February 28, 2020
An additional signal in favor of reducing the 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 265.05. This will indicate a breakdown of the upper border of the downward channel and continued growth of ETH/USD quotes above the level of 175.55. With the breakdown of the support area and closing of quotes below the level of 195.05, we should expect confirmation of the development of a decline in Ethereum.
Ethereum Forecast and ETH/USD Analysis February 28, 2020 implies an attempt to correct and test the resistance area near the level of 240.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 175.05. 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 a breakdown of the area of 265.05. Which will indicate the continuation of the rise with a potential target above the level of 305.05.
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