ETH/USD are trading at 213.16 and continue to move as part of the growth and formation of the «Triangle» model. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $23 889 324 899. 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 reduce the value of the coin and test the support level near the area of 207.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above 265.05.
Ethereum Forecast and ETH/USD Analysis May 29, 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 lower boundary of the «Triangle» model. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 180.05. This will indicate a breakdown of the lower boundary of the Triangle model and a continuation of the fall of ETH/USD quotes below the level of 150.05. With the breakdown of the resistance area and closing of quotes above 235.05, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis May 29, 2020 implies an attempt to correct and test the support area near the level of 207.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 265.05. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of raising a digital currency will be a breakdown of the area of 180.05. Which will indicate a continued fall with a potential target below the level of 150.05.
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