ETH/USD are trading at 178.54 and continue to move as part of the correction. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $19 447 468 677. Moving averages indicate the presence of a short-term lateral trend for Ethereum. At the moment, we should expect an attempt to continue the correction of the digital asset and a test of the resistance level near the area of 184.55. Where again we should expect a rebound and a continuation of the Ethereum rate drop with a potential target below the level of 147.05.
Ethereum Forecast and ETH/USD Analysis October 9, 2019
An additional signal in favor of reducing the 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 upper boundary of the ascending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and the breakdown of the level of 205.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above 235.05. With the breakdown of the lower boundary of the ascending channel and the closing of quotations below the level of 160.05, we should expect an acceleration in the development of a downward trend in Ethereum.
Ethereum Forecast and ETH/USD Analysis October 9, 2019 implies an attempt to correct and test the resistance area near the level of 184.55. Where can we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 147.05. An additional signal in favor of Ethereum’s fall will be a test of the trend line on the relative strength index (RSI). The cancellation of the option of reducing the digital currency will be the breakdown of the area of 205.05. Which will indicate continued growth with a potential target above the level of 235.05.
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