The last days on the ethereum market are marked by deep falls, which found local minimums in the price region of 750 USD, where the local level of support is located. A dynamic rebound in this place may indicate that the correction is completed and we are returning to the upward trend.

Picture 1. Technical analysis, ethereum, H4,1.18.2018

At the moment the main area of resistance is the confluence of equality of corrections and the level of resistance in the vicinity of 1080 USD. In the event of breaking this connection, it opens the way to attack the last peaks in the region of 1370 USD.

Picture 2. Technical analysis, ethereum, H1,18.01.2018

If the demand side does not manage to break the mentioned 1080 USD level, the bears may remain in the initiative with the target around the tested level of 750 USD.

Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice.

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