ETH/USD are trading at 241.82 and continue to move as part of the bullish correction and the downward channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $27 193 233 891. Moving averages indicate the presence of a short-term bullish trend for Ethereum. Prices pierced the area between the signal lines up, which indicates pressure from buyers and the potential continuation of growth. At the moment, we should expect an attempt to increase the value of the coin and test the resistance level near the area of 245.05. Where again we should expect a rebound and the continuation of the Ethereum rate drop with a potential target below 220.55.
Ethereum Forecast and ETH/USD Analysis June 24, 2020
An additional signal in favor of falling ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). 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 of the level of 252.05. This will indicate a breakdown of the upper boundary of the channel and continued growth of ETH/USD quotes above the level of 275.05. With the breakdown of the support area and closing of quotes below the level of 230.05, we should expect confirmation of the development of a fall in Ethereum.
Ethereum Forecast and ETH/USD Analysis June 24, 2020 implies an attempt to correct and test the resistance area near the level of 245.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 220.55. An additional signal in favor of reducing Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the area of 252.05. Which will indicate continued growth with a potential target above the level of 275.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link