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The beginning of the week is undoubtedly a positive accent for the holders of the cryptocurrency ethereum due to the large demand gap. Currently, the quotations have established a local peak just above the round level of 1,200 USD. Therefore, the continuation of the increases and the attack on the historical maximum in the region of 1360 USD is the most likely scenario.

Picture 1. Technical analysis, ethereum, H1,29.01.2018

A correction should end near a local support level close to 1,100 USD. The maximum range for rebound is the potential closure of the resulting gap in the price region of 1030 USD.

Picture 2. Technical analysis, ethereum, H4,229.01.2018

Negation of the upward scenario will be a price drop below the key and psychological level of 1,000 USD.

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

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