Ethereum are trading at the level of 1892.46 and continue to move as part of the fall and the formation of the ”Triangle” pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $218,100,228,999. Moving averages indicate a short-term bearish trend for Ethereum. Prices went down from the area between the signal lines, which indicates pressure from sellers and a potential continuation of the rise in the asset value from the current levels. At the moment, we should expect an attempt to develop the growth in the value of the coin and test the resistance level near the 1945.05 area. Where can we expect a rebound again and the continuation of the fall in the Ethereum rate with a potential target below the level of 1625.00.
Ethereum Forecast and ETH/USD Analysis July 20, 2021
An additional signal in favor of reducing the ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the ”Triangle” pattern. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 2105.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 2325.05. With the breakdown of the support area and closing of quotations below the level of 1765.05, we should expect confirmation of the development of a downward movement in Ethereum, which will indicate a breakdown of the lower boundary of the ”Triangle” model.
Ethereum Forecast and ETH/USD Analysis July 20, 2021 implies an attempt to correct and test the resistance area near the level of 1945.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1625.00. An additional signal in favor of a decline in Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the area of 2105.05. This will indicate continued growth in the digital currency with a potential target above the level of 2325.05.
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