Ethereum ETH/USD are trading at 156 and continue to move as part of the correction and the downward channel. Cryptocurrency capitalization at the time of the publication of the forecast is $17 064 615 613. Moving averages indicate the presence of an upward trend in Ethereum. At the moment, we should expect an attempt to grow and test the resistance level near the area of 160. Where again we should expect a rebound and the continuation of the fall of the Ethereum rate with a potential goal below the level of 130.
Ethereum Forecast and ETH/USD Analysis May 3, 2019
An additional signal in favor of the drop in ETH/USD quotes is a test of the downward trend line on the relative strength index (RSI). As you can see, the indicator values continue to repel from the resistance line. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 175. This will indicate a breakdown of the resistance level and continued growth of ETH/USD quotes above the level of 205. With the breakdown of the lower boundary of the ascending channel and closing of quotes below the level of 145, we can expect the acceleration of downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis May 3, 2019 involves an attempt to test the resistance area near the level of 160. Where should we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to below 130. An additional signal in favor of Ethereum falling will be a test of the trend line on relative strength index (RSI). The cancellation of the digital currency reduction option will be canceled by the area 175. That will indicate a continuation of the rise with a potential target above the level of 205.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
