ETH/USD are traded at 334.72 and continue to move within the correction and the ascending channel. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $38 088 707 229. Moving averages indicate a short-term bullish trend for Ethereum. Prices broke down the area between the signal lines, which indicates pressure from sellers and a potential continuation of the fall in 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 area of 290.55. Where can we expect a rebound again and continued growth of the Ethereum rate with a potential target above the level of 455.05.
Ethereum Forecast and ETH/USD Analysis September 10, 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 245.05. This will indicate a breakdown of the lower boundary of the ascending channel and the continuation of the fall in ETH/USD quotes below the level of 205.05. With the breakdown of the resistance area and closing of quotations above the level of 405.05, we should expect confirmation of the development of growth in Ethereum.
Ethereum Forecast and ETH/USD Analysis September 10, 2020 implies an attempt to correct and test the support area near the level of 290.55. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 455.05. 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 a breakdown of the 245.05 area. This will indicate a continued fall with a potential target below 205.05.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link