Ethereum ETH/USD completes the trading week at 462 and continues to move in a downward trend. At this point, we should expect a resistance level attempt near the area of 490. Again, we expect a rebound and the continued decline in the Ethereum rate with a target below 325.
Ethereum weekly forecast & analysis July 30 — August 3, 2018
In favor of the decline in quotations ETH/USD will break the support line on the indicator of relative strength index (RSI), as well as the formation of the reversal model «Head and Shoulders». The abolition of the fall option will be a strong growth and breakdown of the level of 575, which will indicate the breakdown of the upper boundary of the channel and the continuation of the growth of ETH/USD. Confirmation of the decrease of the crypto currency will be the breakdown of the support area and the closing of quotations below the level of 405.
Ethereum weekly forecast & analysis July 30 — August 3, 2018 suggests a test of the resistance area near the level of 490, from which it is expected to rebound and continue falling of the cryptocurrency in the area below the level of 325, an additional signal in favor of Ethereum decline will be a breakdown of the trend line on the indicator of relative strength index (RSI), the cancellation of the fall variant will be the breakdown of the area 575.