Ethereum ETH/USD are traded at 113 and continue to move as part of the decline and start to work on the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $12 193 415 662. 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 the area of 120. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below level 95.
Ethereum Forecast and ETH/USD Analysis January 23, 2019
An additional signal in favor of a 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 limit of the model «Triangle». Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown level of 125. This will indicate a breakdown of resistance and the continuation of the fall of ETH/USD quotes above the level of 155. With the breakdown of the support area and the closure of quotes below the level of 105, we should expect an acceleration of downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis January 23, 2019 suggests an attempt to test the resistance area near the level of 120. Where should we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to the area below 95. An additional signal in favor of Ethereum reduction will be a test of the trend line on relative strength index (RSI). The breakdown of the digital currency will be canceled by the area 125 breakdown. This will indicate continued growth with a potential target above the 155 level.
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