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ETH/USD: technical analysis course, 24-25 January 2019

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.

24 января ETHUSD H4
24 Jan ETHUSD H4

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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