Similarly to the majority of the most popular cryptocurrencies, the ethereum quotes failed to expand the recovery from the previous week and stopped in the area of strong resistance of 1080 USD. This level is defined on the basis of equality of corrections and resistance defined on the basis of the polarity rule.

Picture 1. Technical analysis, ethereum, H4,24.01.2018

If we breakout such strong resistance, we should be witnessing a dynamic continuation of the upward trend, which another resistance at least in the price region of 1350 USD, where historical maxima are currently exsist.

Picture 2. Technical analysis, ethereum, M30,24.01.2018

At the M30 interval, pay attention to local resistance of 1,000 USD. His short-term removal will most likely mean a test of the mentioned confluence 1080 USD.

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

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