Ethereum ETH/USD are trading at 283.11 and continue to move within the growth and ascending channel. Cryptocurrency capitalization at the time of the publication of the forecast is $30 169 683 255. Moving averages indicate a short-term bullish trend in Ethereum. At the moment, we should expect an attempt to reduce and test the lower boundary of the ascending channel near region 270. Where again we should expect a rebound and continued growth in the rate of Ethereum with a potential target above the level of 315.
Ethereum Forecast and ETH/USD Analysis May 31, 2019
An additional signal in favor of the growth of 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 boundary of the rising channel. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of 260. This will indicate a breakdown of the lower border of the model and the continuation of the fall in ETH/USD quotes below 215. With the breakdown of the resistance area and the closure of quotes above 290, we should expect an acceleration of upward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis May 31, 2019 suggests an attempt to test the support area near the level of 270. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to an area above the level of 315. An additional signal in favor of raising Ethereum will be a test of the trend line relative strength index (RSI). The breakdown of the digital currency growth option will be made by the breakdown of area 260. This will indicate a continuation of the fall with a potential target below the 215 level.
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