Ethereum ETH/USD are trading at 104 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $11 255 822 574. Moving averages indicate a bearish trend in Ethereum. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 105. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below 85.
Ethereum Forecast and ETH/USD Analysis February 6, 2019
An additional signal in favor of the drop in ETH/USD quotes is a test of the downward trend line on the relative strength index (RSI). As well as a rebound from the upper limit of the model «Triangle». Cancellation of a fall in cryptocurrency will be a strong growth and a breakdown of the level 115. This will indicate a breakdown of resistance and a continuation of the fall in ETH/USD quotes above the level of 145. With the breakdown of the lower boundary of the «Triangle» model and the closing of quotes below 100, one should expect an acceleration of the downward movement in Ethereum .
Ethereum Forecast and ETH/USD Analysis February 6, 2019 suggests an attempt to test the resistance area near the level of 105. Where should we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to an area below 85. An additional signal in favor of reducing Ethereum is a test trend line on relative strength index (RSI). Cancellation of the option of falling digital currency will be a breakdown of the area 115. That would indicate continued growth with a potential target above the level of 145.