ETH/USD are trading at 188.81 and continue to move as part of the fall and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $20 934 558 477. Moving averages indicate the presence of a short-term bearish trend for Ethereum. Prices pushed from the area between the signal lines down, indicating pressure from sellers. At the moment, we should expect an attempt to correct the value of the coin and a test of the resistance level near the area of 195.65. Where again we should expect a rebound and the continuation of the Ethereum rate drop with a potential target below 165.05.
Ethereum Forecast and ETH/USD Analysis May 12, 2020
An additional signal in favor of reducing the 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 210.55. This will indicate a breakdown of the upper border of the downward channel and the continuation of the rise in ETH/USD quotes above the level of 265.05. With the breakdown of the support area and closing of quotes below the level of 175.05, we should expect confirmation of the development of a fall in Ethereum.
Ethereum Forecast and ETH/USD Analysis May 12, 2020 implies an attempt to correct and test the resistance area near the level of 195.65. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 165.05. 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 210.55. What will indicate the continuation of the rise with a potential target above the level of 265.05.
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