Ethereum ETH/USD are trading at 266.10 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $28 422 425 704. 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 255. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 310.
Ethereum Forecast and ETH/USD Analysis May 28, 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 245. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the drop in ETH/USD quotes below 225. With the breakdown of the resistance area and the closure of quotes above 285, we should expect an acceleration of the upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis May 28, 2019 suggests an attempt to test the support area near the level of 255. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the 310 level. An additional signal in favor of the rise of Ethereum is the trend line test for relative strength index (RSI). The breakdown of the digital currency growth option will be made by the breakdown of the area 245. That will indicate the continuation of the fall with the potential target below the level of 225.
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