Ethereum ETH/USD are trading at 115 and continue to move as part of the decline and start of the «Triangle» model. Cryptocurrency capitalization at the time of the publication of the forecast is $12 412 548 366. Moving averages indicate a bearish trend in Ethereum. At the moment, we should expect an attempt to grow and test the resistance level near the area of 120. Where again we should expect a rebound and the continuation of the fall of the Ethereum rate with a potential target below the level of 100.
Ethereum Forecast and ETH/USD Analysis January 24, 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 lower boundary of the model «Triangle». Cancellation of the option of falling cryptocurrency will be a strong growth and a breakdown of the level of 130. 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 the downward movement in Ethereum.
Ethereum Forecast and ETH/USD Analysis January 24, 2019 implies 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 below 100. An additional signal in favor of Ethereum reduction is a test of the trend line on relative strength index (RSI). The breakdown of the option of falling digital currency will be made by the breakdown of area 130. This will indicate continued growth with a potential target above level 155.