Ethereum ETH/USD traded at 266.47 and continues to move as part of growth. Cryptocurrency capitalization at the time of the publication of the forecast is $28 710 840 833. Moving averages indicate the presence of a short-term bullish trend in Ethereum. At the moment, we should expect an attempt to reduce and test the upper limit of the «Triangle» model near area 255. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 315.
Ethereum Forecast and ETH/USD Analysis May 29, 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 upper limit of the model «Triangle». Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 230. This will indicate a breakdown of the lower border of the model and the continuation of the drop in ETH/USD quotes below 215. 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 29, 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 level of 315. The additional test in favor of the rise of Ethereum is the trend line test relative strength index (RSI). The breakdown of the growth rate of the digital currency will be made by the breakdown of the 230 area. This indicates a continuation of the fall with the potential target below the 215 level.
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