ETH/USD are traded at 436.72 and continue to move within the growth and ascending channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $49 224 889 813. Moving averages indicate a short-term bullish trend for Ethereum. Prices pushed up from the area between the signal lines, which indicates pressure from buyers and a potential continuation of the rise in the asset value from 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 380.05 area. Where can we expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 535.05.
Ethereum Forecast and ETH/USD Analysis September 1, 2020
An additional signal in favor of the growth of the ETH/USD quotes will be a test of the rising 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 lower border of the ascending channel and the continuation of the fall in ETH/USD quotes below the level of 295.55. With the breakdown of the resistance area and closing of quotations above the level of 475.55, we should expect confirmation of the development of growth in Ethereum and the beginning of the development of the “Triangle” model.
Ethereum Forecast and ETH/USD Analysis September 1, 2020 implies an attempt to correct and test the support area near the level of 380.05. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 535.05. 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 295.55.
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