Ethereum ETH/USD are trading at 219.39 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 $23 715 115 848. Moving averages indicate a short-term bearish trend in Ethereum. At the moment, we should expect an attempt to fall and a test of the support level near the area of 200.00. Where can we again expect a rebound and continuation of the growth rate of Ethereum with a potential target above the level of 295.00.
Ethereum Forecast and ETH/USD Analysis July 26, 2019
An additional signal in favor of the growth of ETH/USD quotes will be the formation of the head and shoulders reversal pattern on the relative strength indicator. The second signal will be the formation of the «Double bottom» model on the price chart. Cancellation of the growth of cryptocurrency will be the fall and the breakdown of the level of 185.00. This will indicate a breakdown of the support area and the continuation of the drop in ETH/USD quotes below the level of 155.00. With the breakdown of the upper boundary of the channel and the closure of quotes above the level of 235.00, we can expect an acceleration of the upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis July 26, 2019 involves an attempt to test the support area near the level of 200.00. Where can we expect a rebound and the continuation of growth of cryptocurrency ETH/USD in the region above the level of 295.00. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength indicator. The cancellation of the option of growth of digital currency will be the breakdown of the area of 185.00. That will indicate the continuation of the fall with a potential goal below the level of 155.00.
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