ETH/USD are trading at 185.76 and continue to move as part of the correction and the downward channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $20 572 700 697. Moving averages indicate the presence of a short-term lateral trend for Ethereum, but prices are above the level of signal lines, which indicates pressure from the bulls. At the moment, we should expect an attempt to reduce the value of the digital asset and test the support level near the area of 172.55. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 220.05.
Ethereum Forecast and ETH/USD Analysis November 6, 2019
An additional signal in favor of the growth of ETH/USD quotes will be a test of the support line on the relative strength index (RSI). Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 155.05. This will indicate a breakdown of the support area and continued growth of ETH/USD quotes below 115.05. With the breakdown of the resistance area and the closing of quotes above the level of 205.05, we can expect accelerated development of growth in Ethereum.
Ethereum Forecast and ETH/USD Analysis November 6, 2019 implies an attempt to correct and test the support area near the level of 172.55. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 220.05. An additional signal in favor of the rise in Ethereum will be a test of the trend line on the relative strength index (RSI). The cancellation of the digital currency growth option will be the breakdown of the 155.05 area. Which will indicate a continued decline with a potential target below the level of 115.05.