ETH/USD are trading at 180.93 and continue to move as part of strong growth and a bearish channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $20 074 475 825. Moving averages indicate the presence of a short-term downward trend in Ethereum, but prices were able to rise above the level of signal lines, indicating pressure from the bulls. At the moment, we should expect an attempt to correct the value of the digital asset and a test of the support level near the area of 165.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 235.05.
Ethereum Forecast and ETH/USD Analysis October 29, 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). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 145.05. This will indicate a breakdown of the support area and continued growth of ETH/USD quotes below the level of 105.05. 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 October 29, 2019 implies an attempt to correct and test the support area near the level of 165.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 235.05. 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 a breakdown of the area of 145.05. That will indicate a continued decline with a potential target below the level of 105.05.
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