Ethereum ETH/USD are traded at 1057 and continue to move within the bullish channel. At this point, we should expect an attempt to test the level of 1150. Again, we expect a rebound and the continued decline in the Ethereum rate with a target below 800. In favor of the drop in ETH/USD quotations, a trend line test will be performed on the relative strength index (RSI), as well as the formation of a reversal model «Head and Shoulders».
Ethereum forecast & technical analysis February 1, 2018
The cancellation of the fall option will result in strong growth and a close above the level of 1250, which will indicate the outflow of quotations outside the channel and the continuation of the growth of ETH/USD. Expect to accelerate the fall is with the breakdown of the lower boundary of the channel and closing below 950.
Ethereum forecast & technical analysis February 1, 2018 assumes a test of the level 1150, from which it is expected to rebound and continue falling to below the level of 800 as part of the development of the reversal model, an additional signal in favor of the Ethereum fall will test the resistance line on the indicator of relative strength index (RSI).
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