Ethereum ETH/USD closes the trading week at 130.83 and continues to move as part of the decline and the formation of a reversal pattern «Wedge». 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 105.05. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 215.05.
Ethereum Forecast and Analysis January 6 — 10, 2020
An additional signal in favor of an increase in the ETH/USD quotes for the current trading week January 6 — 10, 2020 will be a test of the rising support line on the relative strength index (RSI). The second signal will be a rebound from the lower boundary of the reversal pattern. Cancellation of the growth option will be a fall and a breakdown level of 75.05. This will indicate a breakdown of the support area and a continued fall of ETH/USD with a potential target below the level of 50.05. A confirmation of the growth of the Ethereum cryptocurrency will be a breakdown of the upper boundary of the «Wedge» model and closing quotes above the level of 145.05.
Ethereum Forecast and Analysis January 6 — 10, 2020 implies an attempt to test the support area near the level of 105.05. Where can we expect a rebound and continued growth of the cryptocurrency in the region below the level of 215.05. 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 area of 75.05. In this case, we should expect continued decline with a target below the area of 50.05.