ETH/USD are trading at 184.65 and continue to move as part of the correction and the downward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $20 298 840 479. Moving averages indicate the presence of a short-term bullish trend for Ethereum. At the moment, we should expect an attempt to increase the value of the coin and test the resistance level near the area of 195.45. Where again we should expect a rebound and the continuation of the Ethereum rate drop with a potential target below the level of 145.05.
Ethereum Forecast and ETH/USD Analysis November 12, 2019
An additional signal in favor of reducing the ETH/USD quotes will be a test of the resistance line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the level of 210.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above the level of 245.05. With the breakdown of the support area and closing of quotes below the level of 170.05, we should expect confirmation of the development of a decline in Ethereum.
Ethereum Forecast and ETH/USD Analysis November 12, 2019 implies an attempt to correct and test the resistance area near the level of 195.45. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 145.05. An additional signal in favor of reducing Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the area of 210.05. Which will indicate the continuation of the rise with a potential target above the level of 245.05.