There is a possibility of growth of quotations of Ethereum paired with the US dollar to $121,60 in the course of trading on the cryptocurrency on January 25.
The four-hour chart the ETH/USD
At the time of market analysis the Ethereum to the United States dollar is quoted at $115,60. C January 20, a pair of ETH/USD is trading in a narrowing range, where the upper boundary formed by a line moving average EMA14 with the current value of $116,55 and the footer on the first key support level of $115,00.
Given the accumulated volume of open positions on the Ethereum for the last five days in a narrow price range, we should expect the exit rates of younger horizontal channel on strong momentum.
Given these technical indicators, strengthening the bullish trends in the short-term market leading altcoins, it is assumed that the bulls are in the market Ethereum will attempt the breakdown of local resistance level with a probability of growth of quotations up to $121,60, traded in bitcoin on January 25.
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