Ethereum ETH/USD are traded at 612 and continue to move in a bearish trend. At this point, we should expect a test of the resistance level near the area of 740. Again, we expect a rebound and the continued decline in the Ethereum rate with a target below 350. In favor of falling quotations, ETH/USD will test the resistance line on the relative strength index (RSI), as well as the upper boundary channel test.
Ethereum forecast & technical analysis February 7, 2018
The reversal of the fall option will be a strong growth and breakdown at the level of 840, which will indicate the breakdown of the resistance area and the continuation of the growth of ETH/USD above the level of 1050. Expect the acceleration of the fall is with the breakdown of the lower border of the channel and closing below 450.
Ethereum forecast & technical analysis February 7, 2018 suggests a test of the level 740, from which it is expected to rebound and continue falling to the area below the level of 350, an additional signal in favor of the Ethereum fall will test the resistance line on the indicator of relative strength index (RSI).