Ethereum ETH/USD traded at 231.55 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $24 312 691 406. Moving averages indicate a short-term uptrend in Ethereum. At the moment, we should expect an attempt to fall and a test of the support level near area 220. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 275.
Ethereum Forecast and ETH/USD Analysis May 16, 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 bullish channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 195. This will indicate a breakdown of the support level and the continuation of the fall in ETH/USD quotes below the level of 165.
Ethereum Forecast and ETH/USD Analysis May 16, 2019 implies an attempt to test the support area near the level of 220. Where should we expect a rebound and continued growth of ETH/USD cryptocurrency in the area above the level of 275. An additional signal in favor of the rise of Ethereum is relative strength index (RSI). The breakdown of the digital currency growth option will be made by the breakdown of the area 195. That will indicate a continuation of the fall with a potential target below the level of 165.
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