As expected, one of the world’s leading cryptocurrencies ethereum continues a strong upward trend, which has now stopped at $ 1,200. In this region, we could observe the correction, but after closing the gap, the demand side once again attacked the this level and it seems that this time the attack will be effective.

Picture 1. Technical analysis, ethereum, D1,9.1.2018

Continuation of increases assumes reaching around the next round level of 1,300 USD. Due to the dynamics of the current movement, mentioned a scenario is possible to be implemented later this week.

Picture 2. Technical analysis, ethereum, D1,9.1.2018

Any correction should not negate the upward trend, but only allow entering the market at a better price. Currently, the first target area for bears is the previously rounded round of support for 1000 USD. The maximum range for a possible correction is at 960 USD.
Risk Warning: The contents of this analysis is for informational purposes only and does not constitute investment advice.

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