Ethereum ETH/USD are trading at 249.46 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $26 746 234 027. Moving averages indicate a short-term bullish trend in Ethereum. At the moment, we should expect an attempt to fall and a test of the support level near area 225. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 285.
Ethereum Forecast and ETH/USD Analysis May 17, 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 ascending channel and the continuation of the drop in ETH/USD quotes below the level of 175. With the breakdown of the resistance area and the closing of quotes above the level of 265, we should expect an acceleration of the upward movement on Ethereum.
Ethereum Forecast and ETH/USD Analysis May 17, 2019 implies an attempt to test the support area near the level of 225. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 285. The additional test in favor of the rise of Ethereum is the trend line test relative strength index (RSI). The breakdown of the area 200 growth will be the cancellation of the growth option of the digital currency. This indicates a continuation of the fall with a potential target below the level of 175.
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