Ethereum ETH/USD completes the trading week at 580 and continues to move within the framework of correction and formation of the inverted «Head and Shoulders». At this point, we should expect a support level attempt near area 530. Again, we expect a rebound and the continued growth of the Ethereum rate with a target above the level of 1000.
Ethereum weekly forecast June 4 — 8, 2018
In favor of the growth of quotations ETH/USD will perform a test of the support line on the indicator of relative strength index (RSI). Cancellation of the growth option will be a breakdown of the support level and a close below 350, which will indicate the continuation of the fall of ETH/USD and the cancellation of the reversal pattern. Confirmation of the growth of the cryptocurrency will be a breakdown of the «Neckline» of the reversal pattern and the closing of quotations above the level of 800.
Ethereum weekly forecast June 4 — 8, 2018 suggests testing of the support area near the level of 530, from which it is expected to rebound and continue growth to the area above the level of 1000, an additional signal for the growth of Ethereum will be a test of the support area on the indicator of relative strength index (RSI).