ETH/USD are trading at 136.80 and continue to move as part of the growth and development of the bullish «Wolfe Wave» model. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $15 181 844 089. Moving averages indicate the presence of a short-term bearish trend for Ethereum. At the moment, we should expect an attempt to reduce the value of the coin and test the support level near the area of 125.15. Where again we should expect a rebound and continued growth of the Ethereum rate with a potential target above the level of 180.05.
Ethereum Forecast and ETH/USD Analysis January 10, 2020
An additional signal in favor of the rise in ETH/USD quotes will be a test of the support line on the relative strength index (RSI). The second signal will be the formation of the head and shoulders reversal pattern. Cancellation of the cryptocurrency growth option will be a fall and a breakdown of the level of 115.05. This will indicate a breakdown of the support area and a continuation of the fall of ETH/USD quotes below the level of 90.05. With the breakdown of the resistance area and closing of quotes above the level of 153.55, we should expect confirmation of the development of growth for Ethereum.
Ethereum Forecast and ETH/USD Analysis January 10, 2020 implies an attempt to correct and test the support area near the level of 125.15. Where can we expect a rebound and continued growth of the ETH/USD cryptocurrency in the region above the level of 180.05. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength index (RSI). Cancellation of the option of raising a digital currency will be a breakdown of the area of 115.05. That will indicate a continued fall with a potential target below the level of 90.05.
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