Ethereum ETH/USD traded at 235.73 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $25 307 467 750. Moving averages indicate a short-term bullish trend in Ethereum. At the moment, we should expect an attempt to fall and test the lower boundary of the channel near the area of 235. Where again we should expect a rebound and continued growth of the course Ethereum with a potential target above the level of 305.
Ethereum Forecast and ETH/USD Analysis May 24, 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 205. This will indicate a breakdown of the lower boundary of the upward 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 275, we should expect an acceleration of the upward movement of Ethereum.
Ethereum Forecast and ETH/USD Analysis May 24, 2019 implies an attempt to test the support area near the level of 235. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 305. An additional signal in favor of the rise of Ethereum is the trend line test for relative strength index (RSI). The cancellation of the digital currency growth option will be made by the breakdown of the area 205. That will indicate a continuation of the fall with a potential target below the level of 175.