ETH/USD are trading at 375.56 and continue to move as part of the growth and the ascending channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $42 462 251 191. Moving averages indicate a short-term bullish trend for Ethereum. Prices have broken through the areas between the signal lines upward, which indicates pressure from buyers and a potential continuation of the asset’s price growth 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 330.65 area. Where can we expect a rebound again and continued growth in the Ethereum rate with a potential target above the level of 500.55.
Ethereum Forecast and ETH/USD Analysis September 16, 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 285.55. This will indicate a breakdown of the support area and a continuation of the fall in ETH/USD quotes below the level of 255.65. With the breakdown of the resistance area and closing of quotations above the level of 420.05, we should expect confirmation of the development of growth in Ethereum and the breakdown of the upper border of the descending channel.
Ethereum Forecast and ETH/USD Analysis September 16, 2020 suggests an attempt to correct and test the support area near the 330.65 level. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 500.55. 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 285.55 area. This will indicate a continued fall with a potential target below the level of 255.65.
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