Ethereum ETH/USD are traded at the level of 226 and continue to move within the correction. Capitalization of the cryptocurrency at the time of publication of the forecast is $23 490 408 081. At this point, we should expect a test of the resistance level near area 240. Again, we expect a rebound and the continued decline in the Ethereum rate with a potential target below the level of 165.
Ethereum forecast & technical analysis October 2, 2018
An additional signal in favor of falling quotes ETH/USD will test the trend line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». Cancellation of the variant of the crypto currency fall will be a strong growth and breakdown of the level of 255, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of quotations ETH/USD above the level of 295. With the breakdown of the support area and the closing of quotations below 205, it is necessary to confirm the development of the downward movement in Ethereum.
Ethereum forecast & technical analysis October 2, 2018 suggests an attempt to test the resistance area near the level of 240, from which it is expected to rebound and continue falling of the ETH/USD cryptocurrency in the area below the level of 165, an additional signal in favor of the Ethereum fall will be a trend line test on an indicator of relative strength index (RSI), the abolition of the option of reducing the digital currency will be a breakdown of the area of 255, which indicates the continued growth with a potential target above the level of 295.
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