Ethereum ETH/USD closes the trading week at 168.62 and continues to move as part of the correction and the formation of the «Wedge» reversal pattern. Moving averages indicate a bearish trend for ETH/USD. At the moment, we should expect an attempt to continue to decline and test the support level near the area of 145.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 295.05.
Ethereum Forecast and Analysis January 20 — 24, 2020
An additional signal in favor of raising the ETH/USD quotes for the current trading week January 20 — 24, 2020 will be a test of the broken trend 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 growth option will be a fall and a breakdown of the level of 105.05. This will indicate a breakdown of the support area and the continuation of the fall of ETH/USD with a potential target below the level of 65.05. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the upper boundary of the Klin model and closing quotes above the level of 150.05.
Ethereum Forecast and Analysis January 20 — 24, 2020 implies an attempt to test the support area near the level of 145.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 295.05. An additional signal in favor of the rise in the Ethereum course 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 105.05 area. In this case, we should expect continued decline with a target below the area of 65.05.
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