ETH/USD are trading at 231.37 and continue to move as part of the correction and the bearish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $25 863 690 494. Moving averages indicate the presence of a short-term bearish trend for Ethereum. Prices are testing the area between the signal lines, which indicates pressure from the sellers and the potential continuation of the fall. At the moment, we should expect an attempt to reduce the value of the coin and test the support level near the area of 225.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above 265.55.
Ethereum Forecast and ETH/USD Analysis June 19, 2020
An additional signal in favor of the growth of ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be the formation of the «Head and Shoulders» reversal pattern. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 210.05. This will indicate a breakdown of the lower border of the channel and the continuation of the fall of ETH/USD quotes below the level of 185.05. With the breakdown of the resistance area and the closing of quotes above the level of 245.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis June 19, 2020 implies an attempt to correct and test the support area near the level of 225.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 265.55. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of raising a digital currency will be a breakdown of the area of 210.05. Which will indicate a continuation of the fall with a potential target below the level of 185.05.
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