Ethereum are trading at 1633 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 $198,162,197,436. Moving averages indicate the presence of a short-term sideways trend for Ethereum. Prices have gone up from the area between the signal lines, 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 1605. From where we should again expect a rebound upwards and a continuation of the growth of the Ethereum rate with a potential target above 1835.
Ethereum Forecast January 25, 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 the breakdown of the level of 1485. This will indicate a breakdown of the support area and the continuation of the fall of ETH/USD quotes below the level of 1105. With the breakdown of the resistance area and the closing of quotes above the level of 1755, which will indicate a breakdown of the upper limit of the bullish channel, which will act as a signal to increase the width of the channel.
Ethereum Forecast January 25, 2023 suggests an attempt to correct and test the support area near the level of 1605. Where should we expect a rebound and continued growth of the ETH/USD cryptocurrency to the area above the level of 1835. An additional signal in favor of the growth of Ethereum will be a test of the trend line on the relative strength indicator. Cancellation of the option of raising the digital currency will be a breakdown of the area of 1485. Which will indicate the continued fall of the digital currency with a potential target below the level of 1105.