Ethereum cryptocurrency completes the trading week near the area of 116. ETH/USD quotes are traded below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a downward trend by Ethereum.
As part of the digital asset exchange rate forecast for the current week of January 21 — 25, 2019. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 135. Where should we expect an attempt of a rebound and the continuation of the fall of cryptocurrency with a goal of 40.
Ethereum Weekly Analysis and Forecast January 21 — 25, 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 bearish channel. Earlier, a medium strength signal was received for SELL the Ethereum cryptocurrency. The signal was formed due to the intersection of the signal lines at 125. The nearest resistance area is at 155. The area of support for ETH/USD is at 105.
The cancellation of the Ethereum fall option will be the 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 downward trend in favor of an upward trend. Expect to accelerate the fall in quotes ETH/USD stands with the breakdown of the support area and closing below 100.
Ethereum Weekly Analysis and Forecast January 21 — 25, 2019 suggests an attempt to develop a correction to the level of 135. Where should we expect a rebound and the continuation of the fall of cryptocurrency with a target near the level of 40. The resistance level test will come out in favor of lowering ETH/USD quotes this week. The cancellation of the fall option will be a strong growth and the breakdown of the area of 165. In this case, we should expect the continuation of Ethereum growth with a potential target at the level of 225.