Ethereum ETH/USD are trading at 242.92 and continue to move as part of the correction and the formation of the upward channel model. Cryptocurrency capitalization at the time of the publication of the forecast is $26 043 532 859. Moving averages indicate a short-term bullish trend in Ethereum. At the moment, we should expect an attempt to decrease and test the lower boundary of the ascending channel near the area of 240. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 310.
Ethereum Forecast and ETH/USD Analysis June 6, 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 index (RSI). The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 200. This will indicate a breakdown of the lower boundary of the model and the continuation of the drop in ETH/USD quotes below 185. With the breakdown of the resistance area and the closure of quotes above 295, we should expect an acceleration of the upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis June 6, 2019 implies an attempt to test the support area near the level of 240. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above 310. An additional signal in favor of Ethereum’s rise will be a test of the trend line relative strength index (RSI). The cancellation of the option of growth of the digital currency will be made by the breakdown of the area 200. This will indicate a continuation of the fall with a potential target below the level of 185.
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