Ethereum ETH/USD are trading at 220 and continue to move as part of the correction. Cryptocurrency capitalization at the time of the publication of the forecast is $23 144 801 561. At the moment, we can expect an attempt to test the resistance level near the area of 230. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below 205.
Ethereum forecast & technical analysis October 11, 2018
An additional signal in favor of the drop in ETH/USD quotes will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of 235, which will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above 275. With the breakdown of the support area and the closing of quotes below 215, we should expect confirmation of the development of downward movement in Ethereum and the start of development «Triangle» models.
Ethereum forecast & technical analysis October 11, 2018 suggests an attempt to test the resistance area near the level of 230, from which we should expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency below 205, an additional signal in favor of Ethereum falling will be a test of the trend line on the relative strength index (RSI), the cancellation of the option of reducing the digital currency will be made by the breakdown of the area 235, which will indicate continued growth with a potential target above the level of 275.