Ethereum ETH/USD completes the trading week at 404.41 and continues to move within the growth and upward channel. Moving averages indicate a bullish trend for ETH/USD. Prices went up from the area between the signal lines, which indicates pressure from cryptocurrency buyers and a potential continuation of growth from the current levels. At the moment, we should expect an attempt to develop a slight downward correction and a test of the support level near the 365.95 area. Where can we expect a rebound again and continued growth in the rate and value of Ethereum with a potential target above the level of 525.05.
Ethereum Forecast and Analysis August 24 — 28, 2020
An additional signal in favor of raising the ETH/USD quotes in the current trading week of August 24 — 28, 2020 will be a test of the support line on the relative strength index (RSI). The second signal will be a rebound from the lower border of the ascending channel. Cancellation of the option of growth in the value of the cryptocurrency in the current trading week will be a fall and a breakdown of the level of 335.05. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes with a potential target below the level of 220.05. Confirmation of the growth of the Ethereum cryptocurrency will be the breakdown of the resistance area and closing of quotations above the level of 455.05.
Ethereum Forecast and Analysis August 24 — 28, 2020 implies an attempt to test the support area near 365.95. Where can we expect a rebound and continued growth of the cryptocurrency to the area above the level of 525.05. An additional signal in favor of a rise in the Ethereum rate will be a test of the support line on the relative strength index (RSI). Cancellation of the growth option will be a fall and a breakdown of the 335.05 area. In this case, we should expect a continued decline with a target below the area of 220.05.