Ethereum ETH/USD closes the trading week at 241.18 and continues to move as part of the growth and downward channel. Moving averages indicate a bullish trend for ETH/USD. Prices have gone far up from the area between the signal lines, which indicates pressure from cryptocurrency buyers. At the moment, we should expect an attempt to grow and test the resistance level near the area of 249.35. Where again we should expect a rebound and a continued decline in the rate and cost of Ethereum with a potential target below 130.05.
Ethereum Forecast and Analysis June 8 — 12, 2020
An additional signal in favor of reducing the ETH/USD quotes for the current trading week June 8 — 12, 2020 will be a test of the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the option of falling cryptocurrency value in the current trading week will be a strong growth and the breakdown level of 265.05. This will indicate a breakdown of the resistance area and continued growth of ETH/USD quotes with a potential target above the level of 350.00. A confirmation of the fall of the Ethereum cryptocurrency will be a breakdown of the support area and closing of quotes below 165.55.
Ethereum Forecast and Analysis June 8 — 12, 2020 implies an attempt to test the resistance area near the level of 249.35. Where can we expect a rebound and the continuation of the fall of cryptocurrency to the area below the level of 130.05. An additional signal in favor of the depreciation of Ethereum will be a test of the resistance line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the area of 265.05. In this case, we should expect the continuation of the rise with the target above the area of 350.00.