Ethereum ETH/USD are trading at 227.72 and continue to move as part of a decline and a downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $24 594 431 831. 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 260.00. 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 160.00.
Ethereum Forecast and ETH/USD Analysis July 16, 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 300.00. This will indicate a breakdown of the upper boundary of the channel and continued growth in ETH/USD quotes above the level of 345.00. With the breakdown of the support area and the closure of quotes below the level of 185.00, we can expect the acceleration of the development of the downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis July 16, 2019 involves an attempt to test the resistance area near the level of 260.00. Where can we expect a rebound and the continuation of the fall of the cryptocurrency ETH/USD in the region below the level of 160.00. 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 300.00 area. That will indicate a continuation of the fall with a potential target above the level of 345.00.
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