Ethereum ETH/USD ends the trading week at level 113 and continues to move as part of the correction. Moving averages indicate a bearish trend. At the moment, we should expect an attempt of growth and a test of the upper boundary of the downward channel near the area of 135. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below level 60.
Ethereum Forecast and Analysis January 28 — February 1, 2019
In favor of the fall in ETH/USD quotes on the current trading week of January 28 — February 1, 2019, a resistance line test on the relative strength index (RSI) will come out. Cancellation of the fall option will be a strong growth and a breakdown of the level of 165. This will indicate a breakdown of the upper boundary of the channel and continued growth of ETH/USD with a potential target above the level of 225. Confirmation of the fall of the cryptocurrency Ethereum will break the support area and close the quotes below 100.
Ethereum Forecast and Analysis January 28 — February 1, 2019 implies an attempt to test the resistance area near the level of 135. Where should we expect a rebound and the continuation of the fall of cryptocurrency in the area below the level of 60. An additional signal in favor of reducing Ethereum will be a resistance test on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the region 165. In this case, we should expect continued growth.