ForexCryptoA

ETHUSD Weekly Forex Forecast 20 September to 26th September

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
Midterm forecast:

While the price is above the support 99.900, beginning of uptrend is expected.
We make sure when the resistance at 393.550 breaks.
If the support at 99.900 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:

The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
The RSI bounced from the support #1 at 18 and it prevented price from more losses.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 39

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