Ethereum are trading at the level of 2477.04 and continue to move as part of the fall and the downtrend channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $316,675,069,428. Moving averages indicate a short-term bearish trend for Ethereum. Prices are testing the area of the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in the value of the asset already from the current levels. At the moment, we should expect an attempt to develop the growth of the coin’s value and test the resistance level near the area of 3055.05. Where can we expect a rebound again and the continuation of the fall in the Ethereum rate with a potential target below the level of 1505.05.
Ethereum Forecast and ETH/USD Analysis May 20, 2021
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 border of the descending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 3405.05. This will indicate a breakdown of the resistance area and a continued rise in the ETH/USD quotes above the level of 4305.05. With the breakdown of the support area and closing of quotations below the level of 2005.05, we should expect confirmation of the development of the bearish movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis May 20, 2021 imply an attempt to correct and test the resistance area near the level of 3055.05. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1505.05. An additional signal in favor of a decline in 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 3405.05. This will indicate a continued rise in the digital currency with a potential target above the level of 4305.05.
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