Ethereum ETH/USD are trading at 157 and continue to move as part of the correction and the beginning of the development of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $16 990 124 777. Moving averages indicate an upward trend in Ethereum. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 160. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below the level of 125.
Ethereum Forecast and ETH/USD Analysis May 2, 2019
An additional signal in favor of the drop in ETH/USD quotes is a test of the downward trend line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the «Triangle» model. Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the level of 175. This will indicate a breakdown of the resistance level and continued growth of the ETH/USD quotes above the level of 205. With the breakdown of the lower boundary of the ascending channel and closing of the quotes below the level of 135, we should expect the downward movement on Ethereum to accelerate.
Ethereum Forecast and ETH/USD Analysis May 2, 2019 implies an attempt to test the resistance area near the level of 160. Where should we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below 125. An additional signal in favor of Ethereum falling will be a test of the trend line on relative strength index (RSI). The cancellation of the digital currency reduction option will be canceled by the area 175. That will indicate a continuation of the rise with a potential target above the level of 205.
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