ETH/USD are trading at 166.37 and continue to move as part of the decline and the downward channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $18 535 359 726. Moving averages indicate the presence of a short-term bearish 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 171.35. Where again we should expect a rebound and a continued decline in the Ethereum rate with a potential target above 155.05.
Ethereum Forecast and ETH/USD Analysis November 22, 2019
An additional signal in favor of a fall in ETH/USD quotes will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the downward channel. Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the level of 182.25. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above 200.05. With the breakdown of the support area and closing of quotes below 160.05, we should expect confirmation of the development of a decline in Ethereum.
Ethereum Forecast and ETH/USD Analysis November 22, 2019 implies an attempt to correct and test the resistance area near the level of 171.35. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 155.05. 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 182.25. That will indicate the continuation of the rise with a potential target above the level of 200.05.
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