Ethereum ETH/USD are trading at 268.95 and continue to move as part of the fall and the downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $29 177 942 592. Moving averages indicate a short-term bearish trend in Ethereum. At the moment, we should expect an attempt to continue growth and test the upper boundary of the downward channel near the area of 280.00. Where can we expect a rebound again and the continuation of the fall in the rate of Ethereum with a potential target below the level of 240.00.
Ethereum Forecast and ETH/USD Analysis July 12, 2019
An additional signal in favor of ETH/USD quotes reduction will be a test of the downward trend line on the relative strength indicator. 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 level of 295.00. This will indicate a breakdown of the upper boundary of the channel and continued growth in ETH/USD quotes above the level of 335.00. With the breakdown of the area of support and the closure of quotes below the level of 320.00, we can expect an acceleration of the development of the downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis July 12, 2019 involves an attempt to test the resistance area near the level of 280.00. Where can we expect a rebound and the continuation of the fall of the cryptocurrency ETH/USD in the region below the level of 240.00. An additional signal in favor of Ethereum reduction will be a test of the trend line on the relative strength indicator. The cancellation of the option of falling digital currency will be a breakdown of the area of 295.00. That indicates a continuation of the fall with a potential target above the level of 335.00.
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