ETH/USD are trading at 212.71 and continue to move as part of strong growth and an upward channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $23 773 657 806. Moving averages indicate the presence of a short-term bullish trend for Ethereum. Prices pierced the area between the signal lines up, which indicates pressure from buyers. At the moment, we should expect an attempt to correct the value of the coin and test the support level near the area of 205.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 255.05.
Ethereum Forecast and ETH/USD Analysis May 21, 2020
An additional signal in favor of the growth of 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 to raise the cryptocurrency will be a fall and a breakdown of the level of 192.05. This will indicate a breakdown of the lower boundary of the rising channel and the continuation of the fall of ETH/USD quotes below 165.05. With the breakdown of the resistance area and the closing of quotes above 220.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis May 21, 2020 implies an attempt to correct and test the support area near the level of 205.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 255.05. An additional signal in favor of the rise in Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the digital currency growth option will be a breakdown of the 192.05 area. Which will indicate a continued fall with a potential target below the level of 165.05.
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