Ethereum ETH/USD ends the trading week at 218 and continues to move as part of a bearish trend. At the moment, we should expect an attempt at a resistance level near the area of 240. Where again we should expect a rebound and the continuation of the decline in the rate of Ethereum with a potential target below 110.
Ethereum weekly forecast & analysis October 8 — 12, 2018
In favor of the drop in ETH/USD quotes on the current trading week of October 8 — 12, 2018, the formation of the «Head and Shoulders» reversal pattern on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the level of 285, which will indicate a breakdown of the upper boundary of the channel and continued growth of ETH/USD with a potential target above the level of 380. Confirmation of a decline in the cryptocurrency Ethereum will be a breakdown of the support area and closing of quotes below the level of 200.
Ethereum weekly forecast & analysis October 8 — 12, 2018 involves an attempt to test the resistance area near the level of 240, where you should expect a rebound and continue to decrease the cryptocurrency in the region below 110, an additional signal in favor of Ethereum falling will be a test of the trend line on the indicator of relative strength index (RSI), cancellation of the reduction option will be a strong growth and the breakdown of the area 285, in this case, we should expect continued growth.