Ethereum ETH/USD are trading at 103 and continue to move as part of a decline. Cryptocurrency capitalization at the time of the publication of the forecast is $11 254 677 915. Moving averages indicate a downward trend in Ethereum. At the moment, we should expect an attempt of growth and a test of the resistance level near area 110. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential goal below level 80.
Ethereum Forecast and ETH/USD Analysis February 1, 2019
An additional signal in favor of the drop in ETH/USD quotes is a test of the downward trend line on the relative strength index (RSI). As well as a rebound from the upper boundary of the descending channel. Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level 115. This will indicate a breakdown of resistance and the continuation of the fall in ETH/USD quotes above the level of 145. With the breakdown of the support area and the closure of quotes below the level of 95, we should expect the downward movement development along Ethereum to accelerate.
Ethereum Forecast and ETH/USD Analysis February 1, 2019 implies an attempt to test the resistance area near the level of 110. Where should we expect a rebound and the continuation of the fall of the ETH / USD cryptocurrency in the region below the level of 80. An additional signal in favor of Ethereum reduction will be a test of the trend line on the relative strength indicator. Cancellation of the option of falling digital currency will be a breakdown of the area 115. That would indicate continued growth with a potential target above the level of 145.