Ethereum are trading at 1581 and continue to move as part of the growth and the bullish channel. The capitalization of the Ethereum cryptocurrency at the time of the publication of the forecast is $192,082,751,677. Moving averages indicate the presence of a short-term sideways trend for Ethereum. Prices have broken through the area between the signal lines upwards, which indicates pressure from buyers and a potential continued growth in the value of the asset already from current levels. At the moment, we should expect an attempt to develop a bullish correction in the value of the coin and a test of the support level near the area of 1505. From where we should again expect a rebound upwards and a continuation of the growth of the Ethereum rate with a potential target above 1965.
Ethereum Forecast January 18, 2023
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 a rebound from the lower border of the bullish channel. Cancellation of the cryptocurrency growth option will be the fall of Ethereum and a breakdown of the level of 1265. This will indicate a breakdown of the support area and a continued fall in ETH/USD quotes below the level of 865. With a breakdown of the resistance area and closing of quotes above the level of 1805, which will indicate a breakdown of the upper limit of the bullish channel.
Ethereum Forecast January 18, 2023 suggests an attempt to correct and test the resistance area near the level of 1505. Where should we expect a rebound and a continuation of the fall of the ETH/USD cryptocurrency to the area below the level of 1965. An additional signal in favor of Ethereum decline 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 of 1265. Which will indicate the continued growth of the digital currency with a potential target above the level of 865.
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