ETH/USD are trading at 179.90 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 $19 802 583 342. Moving averages indicate the presence of a short-term downward trend in Ethereum, however, prices are located above the level of signal lines, which indicates pressure from buyers. At the moment, we should expect an attempt to fall in the value of the digital asset and a test of the support level near the 160.55 area. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 225.05.
Ethereum Forecast and ETH/USD Analysis October 31, 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 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 31, 2019 implies an attempt to correct and test the support area near the level of 160.55. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 225.05. 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.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link