Ethereum ETH/USD ends the trading week at 151 and continues to move as part of growth. Moving averages indicate a downward trend. At the moment, we should expect an attempt to grow and test the upper limit of the descending channel near the area of 155. Where should we expect a rebound again and the continuation of the fall in the rate of Ethereum with a potential target below level 85.
Ethereum weekly forecast & analysis January 7 — 11, 2019
The formation of the «Failure Swing» reversal pattern on the relative strength index (RSI) will be in favor of the drop in ETH/USD quotes on the current trading week of January 7 — 11, 2019. Cancellation of the fall option will be a strong growth and a breakdown of the level of 185. This will indicate a breakdown of the upper boundary of the channel and continued growth of ETH/USD with a potential target above level 245. Confirmation of the fall of the cryptocurrency Ethereum will break the support area and close the quotes below 105.
Ethereum weekly forecast & analysis January 7 — 11, 2019 suggests an attempt to test the resistance area near the level of 155. Where should we expect a rebound and the continuation of the fall of the cryptocurrency in the region below the level of 85. An additional signal in favor of Ethereum reduction will be the formation of a reversal pattern on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and the breakdown of the area 185. In this case, we should expect continued growth.