ETH/USD are trading at 241.91 and continue to move as part of the growth and upward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $27 139 365 425. 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 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 the level of 285.05.
Ethereum Forecast and ETH/USD Analysis June 5, 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 a rebound from the lower boundary of the ascending channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 205.05. This will indicate a breakdown of the lower boundary of the channel and the continuation of the fall of ETH/USD quotes below the level of 175.05. With the breakdown of the resistance area and closing of quotations above the level of 255.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis June 5, 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 285.05. 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 205.05. Which will indicate a continued fall with a potential target below the level of 175.05.
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