Ethereum ETH/USD are trading at 292.17 and continue to move within the correction and the ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $31 552 657 059. Moving averages indicate a short-term bullish trend in Ethereum. At the moment, we should expect an attempt to continue the decline and test the lower boundary of the ascending channel near the area of 285.00. Where can we again expect a rebound and continuation of the growth rate of Ethereum with a potential target above the level of 365.00.
Ethereum Forecast and ETH/USD Analysis July 5, 2019
An additional signal in favor of the growth of ETH/USD quotes will be a test of the rising trend line on the relative strength indicator. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth option cryptocurrency will fall and the breakdown level of 255.00. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall in ETH/USD quotes below the level of 215.00. With the breakdown of the resistance area and the closure of quotes above the level of 325.00, we can expect an acceleration of the upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis July 5, 2019 involves an attempt to test the support area near the level of 285.00. Where can we expect a rebound and the continuation of growth of cryptocurrency ETH/USD in the area above the level of 365.00. 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 growth option of the digital currency will be the breakdown of the area of 255.00. That will indicate the continuation of the fall with a potential goal below the level of 215.00.