Ethereum ETH/USD are trading at the level of 160 and continue to move as part of the correction and the bullish channel. Cryptocurrency capitalization at the time of the publication of the forecast is $17 402 772 547. Moving averages indicate an upward trend in Ethereum. At the moment, we should expect an attempt to grow and test the resistance level near the area of 155. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 175.
Ethereum Forecast and ETH/USD Analysis May 7, 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 150. This will indicate a breakdown of the support level and the continuation of the fall in ETH/USD quotes below the level of 140. With the breakdown of the upper limit of the downward channel and closure of quotes above the level of 170, we can expect the acceleration of the upward movement on Ethereum.
Ethereum Forecast and ETH/USD Analysis May 7, 2019 implies an attempt to test the support area near the level of 155. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 175. An additional signal in favor of the rise of Ethereum will be a test of the trend line on relative strength index (RSI). The cancellation of the option of growth of the digital currency will be made by the breakdown of area 150. This will indicate a continuation of the fall with a potential target below the level of 140.
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