Ethereum ETH/USD are trading at 209.97 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 $22 507 171 189. Moving averages indicate a short-term bearish trend in Ethereum. At the moment, we should expect an attempt to grow and test the upper boundary of the downward channel near the area of 230.00. Where once again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below the level of 130.00.
Ethereum Forecast and ETH/USD Analysis July 24, 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 260.00. This will indicate a breakdown of the upper boundary of the channel and the continuation of the growth of ETH/USD quotes above 295.00. 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 24, 2019 involves an attempt to test the resistance area near the level of 230.00. Where can we expect a rebound and the continuation of the fall of the cryptocurrency ETH/USD in the region below the level of 130.00. An additional signal in favor of Ethereum reduction will be a test of the trend line on the relative strength indicator. Cancellation of the option of falling digital currency will breakdown area 260.00. That will indicate the continuation of the fall with a potential target above the level of 295.00.
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