Ethereum ETH/USD are trading at 124 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $13 571 153 995. Moving averages indicate a bearish trend in Ethereum. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 128. Where once again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential goal below 110.
Ethereum Forecast and ETH/USD Analysis March 6, 2019
An additional signal in favor of reducing the ETH/USD quotes will be a test of the downward 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 cryptocurrency decline option will be a strong growth and a breakdown of the level of 135. This will indicate a breakdown of resistance and continued growth of ETH/USD quotes above the level of 160. With the breakdown of the support area and closure of quotes below the level of 115, we should expect an acceleration of the downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis March 6, 2019 suggests an attempt to test the resistance area near the level of 128. Where should we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below 110. An additional signal in favor of Ethereum reduction is a test of the trend line on relative strength index (RSI). Cancellation of the option of falling digital currency will be the breakdown of the area 135. That would indicate a continuation of the rise with a potential target above the level of 165.
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