Ethereum cryptocurrency ends the trading week near the area of 124. ETH/USD quotes are traded inside the Ichimoku Kinko Hyo Cloud.
This indicates the presence of a lateral trend on Ethereum. As part of the digital asset rate forecast for the current week of January 14 — 18, 2019. A test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 150. Where should we expect an attempt of a rebound and the continuation of the fall of cryptocurrency with a target at 55.
Ethereum Weekly Analysis and Forecast January 14 — 18, 2019
An additional signal in favor of the fall of cryptocurrency will be the test of resistance level. As well as a rebound from the upper limit of the descending channel. Earlier, a weak signal was received for BUY the Ethereum cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 115. The nearest resistance area is at the level of 155. The area of support for ETH/USD is at the level of 105.
Cancellation of the Ethereum fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above area 165. This will indicate a change in the side trend in favor of an upward trend. Expect to accelerate the fall in quotes ETH/USD stands with the breakdown of the lower boundary of the ascending channel and closing below 100.
Ethereum Weekly Analysis and Forecast January 14 — 18, 2019 suggests an attempt to develop a correction to the level of 150. Where should we expect a rebound and the continuation of the fall of cryptocurrency with a target near the level of 55. A test of the resistance level will come out in favor of lowering the ETH/USD quotes. The abolition of the fall option will be a strong growth and a breakdown of the area of 165. In this case, we should expect the growth of Ethereum to continue with a potential target of 225.