Ethereum ETH/USD completes the trading week at 298 and continues to move within the bearish trend. At this point, we should expect an attempt at a resistance level near area 350. Again, we should expect a rebound and the continued decline in the Ethereum rate with a potential target below 150.
Ethereum weekly forecast & analysis August 20 — 24, 2018
In favor of lowering quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI), as well as test the upper boundary of the bearish channel. The cancellation of the fall option will result in a strong growth and breakdown of the level of 450, which will indicate the breakdown of the upper border of the channel and the continuation of the growth of ETH/USD with a target of all levels 640. Confirmation of the decrease in the cryptocurrency will be the breakdown of the support area and the closing of quotations below the level of 260.
Ethereum weekly forecast & analysis August 20 — 24, 2018 suggests an attempt to test the resistance area near the 350 level, from which it is expected to rebound and continue falling of the cryptocurrency in the area below the level of 150, an additional signal in favor of Ethereum decline will be a breakdown of the trend line on the indicator of relative strength index (RSI), cancellation of the fall option will break through the area of 450, in this case, we should expect the completion of a bearish trend and continued growth.
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