Ethereum ETH/USD are trading at level 199 and continue to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $ 20,987,203,035. At the moment, we can expect an attempt to test the resistance level near the area of 205. Where should we expect a rebound again and the continuation of the fall of the Ethereum rate with a potential target below 160.
Ethereum forecast & technical analysis October 25, 2018
An additional signal in favor of the drop in ETH/USD quotes is a test of the trend line on the relative strength index (RSI), as well as a test of the upper limit of the downward channel. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of 220, which will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes above 265. With the breakdown of the support area and the closure of quotes below 185, we should expect confirmation of the downward movement in Ethereum.
Ethereum forecast & technical analysis October 25, 2018 suggests an attempt to test the resistance area near the level of 205, from which we should expect a rebound and the ETH/USD cryptocurrency to fall below 160, 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 make a breakdown of the area 220, which will indicate continued growth with a potential target above level 265.