Ethereum are trading at 387.51 and continue to move within the correction and the upward channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $ 43,695,854,093. Moving averages indicate a short-term bullish trend for Ethereum. Prices are testing the area between the signal lines, which indicates pressure from buyers and a potential continuation of the growth of the asset value from the current levels. At the moment, we should expect an attempt at a bearish correction in the value of the coin and a test of the support level near the 382.55 area. Where can we expect a rebound and continued growth in the Ethereum rate with a potential target above the level of 475.05.
Ethereum Forecast and ETH/USD Analysis October 29, 2020
An additional signal in favor of the growth of ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option for the growth of cryptocurrency will be a fall and a breakdown of the level of 335.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 315.55. With the breakdown of the resistance area and closing of quotations above the level of 435.05, we should expect confirmation of the development of growth in Ethereum.
Ethereum Forecast and ETH/USD Analysis October 29, 2020 suggests an attempt to correct and test the support area near the level of 382.55. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 475.05. An additional signal in favor of the rise of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the growth option for the digital currency will be the breakdown of the 335.05 area. This will indicate a continued fall with a potential target below the level of 315.55.
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