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Analysis

Etherium Analysis – 28.01.19

The next possible breakthrough in ETH over $ 120 or under $ 114.

The Etherum and USD pair failed to speed above the resistance levels of $ 116 and $ 118. As a result, there was a bearish response under the $ 114. The pair even surpassed the support of $ 112 and traded well below the 100-hour simple sliding average. The decline was such that Etherium even traded below the $ 110 level and formed a new bottom near $ 109. Currently, the price consolidates losses close to $ 110. The initial resistance is close to the adjustment rate of 23.6% from the recent downturn from $ 117 to $ 109.

More importantly, there is a large downward trend, formed with a resistance of $ 112 on the hourly chart of ETH / USD. For buyers, it will not be easy to overcome the resistance of the trendline. The next obstacle is close to the level of $ 113. It coincides with a 50% return on fiber from the recent drop from $ 117 to $ 109. Ethereum’s price is traded in a bearish zone below the $ 114 and $ 112 levels. If there’s an upward Correction, Cryptocurrency will likely face many sellers close to $ 112, $ 113 and $ 114.