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ETH/USD: technical analysis course, January 10-11, 2019

After a record day reduction in the price of a pair of ETH/USD konsolidiruyutsya above the medium-term trend reversal $124.00 area.

The daily chart of a pair of ETH/USD

During the current trading session landslide decrease in quotations of ETH/USD $122,15. To a significant reduction in prices have led two series of major sales Ethereum large volumes in short periods of time.

At the time of the market review Ethereum is trading at $127,80. The price of cryptocurrency is adjusted in the range of $124-128. It is technically possible correctional growth of quotations of ETH/USD to $133 on a dynamic resistance level formed by a line thirty-day exponential moving average.

10 января ETHUSD 1D
10 Jan ETHUSD 1D

Values of relative strength index are in the field of sales and the indicator line is pointing down, indicating the likelihood of continuing downward price movement of scriptactive after short term rates.

In that case, if “whales” in the market Ethereum will continue the sale, breakdown support the price of the cryptocurrency at the level of the medium-term trend reversal $of 124.00 would open the space to achieve objectives at the first key support level of $93,00.

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