ETH/USD are traded at 362.86 and continue to move as part of the growth and formation of the ”Triangle” pattern. Ethereum cryptocurrency capitalization at the time of the publication of the forecast is $40 981 377 984. Moving averages indicate a short-term bullish trend for Ethereum. Prices broke through the area 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 352.55 area. Where can we expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 405.55.
Ethereum Forecast and ETH/USD Analysis September 29, 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 breakdown of the lower border of the ”Triangle” model. Cancellation of the growth option for the cryptocurrency will be a fall and a breakdown of the level of 335.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 285.05. With a breakdown of the resistance area and closing of quotations above the level of 375.05 we should expect confirmation of the development of growth in Ethereum and a breakdown of the upper border of the ”Triangle” model.
Ethereum Forecast and ETH/USD Analysis September 29, 2020 implies an attempt to correct and test the support area near the level of 352.55. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 405.55. 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 the breakdown of the 335.05 area. This will indicate a continued fall with a potential target below the level of 285.05.
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