ETH/USD are trading at 241.82 and continue to move as part of the fall and the formation of the «Head and Shoulders» reversal pattern. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $26 231 773 986. Moving averages indicate the presence of a short-term bullish trend for Ethereum. Prices pierced the area between the signal lines down, indicating pressure from the sellers and the potential continuation of the fall. At the moment, we should expect an attempt to increase the value of the coin and test the resistance level near the area of 237.05. Where again we should expect a rebound and a continuation of the Ethereum rate drop with a potential target below the level of 210.05.
Ethereum Forecast and ETH/USD Analysis June 25, 2020
An additional signal in favor of falling ETH/USD quotes will be a test of the broken trend line on the relative strength index (RSI). The second signal will be the completion of the formation of the «Head and Shoulders» reversal pattern. Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the level of 251.05. This will indicate a breakdown of the upper boundary of the channel and continued growth of ETH/USD quotes above 265.05. With the breakdown of the support area and closing of quotes below the level of 215.05, we should expect confirmation of the development of a fall in Ethereum.
Ethereum Forecast and ETH/USD Analysis June 25, 2020 implies an attempt to correct and test the resistance area near the level of 237.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 210.05. 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 251.05. That will indicate continued growth with a potential target above 265.05.
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