Ethereum ETH/USD are trading at 102 and continue to move as part of the decline. Cryptocurrency capitalization at the time of the publication of the forecast is $11 172 980 309. Moving averages indicate a bearish trend in Ethereum. At the moment, we should expect an attempt of growth and a test of the resistance level near the area of 105. Where again we should expect a rebound and the continuation of the fall in the rate of Ethereum with a potential target below 85.
Ethereum Forecast and ETH/USD Analysis January 31, 2019
An additional signal in favor of the drop in ETH/USD quotes is a test of the bearish 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 January 31, 2019 suggests an attempt to test the resistance area near the level of 105. Where should we expect a rebound and the continuation of the fall of the ETH/USD cryptocurrency to an area below 85. An additional signal in favor of reducing Ethereum is a test of the trend line on relative strength index (RSI). 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.
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