Ethereum ETH/USD are traded at 584 and continue to move within a bearish trend. At this point, we should expect a test of resistance level near the area of 625. Again, we expect a rebound and the continued decline in the Ethereum rate with a target below the level of 500.
Ethereum forecast & technical analysis on March 16, 2018
In favor of falling quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI). The reversal of the fall variant will be a strong growth and a breakdown of the level of 670, which will indicate the breakdown of the upper boundary of the bearish channel and the continuation of the growth of ETH/USD above the level of 750. With the breakdown of the support area and the closing of quotations below 550, it is necessary to confirm the development of the bearish trend in Ethereum.
Ethereum forecast & technical analysis on March 16, 2018 expects a test of the resistance level near the area of 625, from which it is expected to rebound and continue falling to the area below the level of 500, an additional signal in favor of the Ethereum fall will be a test of the bearish trendline on the indicator of relative strength index (RSI).
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