Ethereum ETH/USD completes the trading week at 449 and continues to move within the downward trend and the formation of the «Triangle» model. At this point, we should expect an attempt at a resistance level near the area of 490. Again, we should expect a rebound and the continued decline in the Ethereum rate with a target below the level of 305.
Ethereum weekly forecast & analysis July 16 — 20, 2018
In favor of lower quotations ETH/USD will test the resistance line on the indicator of relative strength index (RSI). Cancellation of the fall option will be a strong growth and breakdown of the level of 530, which indicates the breakdown of the upper limit of the model «Triangle» and the continuation of growth of ETH/USD. Confirmation of the decrease of the cryptocurrency will be the breakdown of the lower limit of the model and the closing of quotations below the level of 390.
Ethereum weekly forecast & analysis July 16 — 20, 2018 suggests a test of the resistance area near the 480 level, from which it is expected to rebound and continue falling of the cryptocurrency in the area below the level of 305, an additional signal in favor of the Ethereum decline will be a downlink resistance test on the relative strength index (RSI), the cancellation of the fall variant will be the breakdown of the area 530.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
