Ethereum ETH/USD closes the trading week at 154.83 and continues to move as part of the decline and the formation of the head and shoulders reversal pattern. Moving averages indicate a bearish trend for ETH/USD. Prices push away from the area between the signal lines, which will indicate pressure from sellers. At the moment, we should expect an attempt to continue to decline and test the support level near the area of 125.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 290.05.
Ethereum Forecast and Analysis January 27 — 31, 2020
An additional signal in favor of raising the ETH/USD quotes for the current trading week January 27 — 31, 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 boundary of the ascending 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 border of the Head and Shoulders model and closing quotes above the level of 170.05.
Ethereum Forecast and Analysis January 27 — 31, 2020 implies an attempt to test the support area near the level of 125.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 290.05. 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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