Ethereum ETH/USD are trading at 212.88 and continue to move as part of a decline and a bearish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $23 109 363 999. 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 235.00. 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 145.00.
Ethereum Forecast and ETH/USD Analysis July 23, 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 255.00. This will indicate a breakdown of the upper boundary of the channel and the continuation of growth in ETH/USD quotes above the level of 305.00. With the breakdown of the support area and closing of quotes below the level of 180.00, we can expect an acceleration of the development of the downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis July 23, 2019 involves an attempt to test the resistance area near the level of 235.00. Where can we expect a rebound and the continuation of the fall of the cryptocurrency ETH/USD to an area below the level of 145.00. 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 255.00. That will indicate the continuation of the fall with a potential goal above the level of 305.00.
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