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Ethereum ETH/USD Forecast and Analysis January 29, 2021

Ethereum quotes have been consolidating between $ 1000 and $ 1400 for several weeks now. The upward trend in the cryptocurrency stopped a little earlier, due to the fact that the main growth driver, Bitcoin, has run out of steam and is not able to show quotes of $ 45,000 in the near future.

Ethereum in this bullish rally shows much better results, once again proving the rule that cryptocurrency wins this way, which has not only marketing promotion, but also real value.

Ethereum ETH/USD Forecast

The Ethereum rate forecast is made at a rate of $ 1330. Formally, the trend for Ethereum is still upward. Cryptocurrency quotes are moving within an ascending channel. Also, the ETH / USD chart is above the cloud of the Ichimoku indicator, which is a confirming factor in favor of the upward trend in Ethereum.

The support area for the Ethereum course is 1200-1240. Resistance levels are 1470 and 1530.

A short-term rollback of the rate to the area of ​​support levels is possible, with a further rebound and an attempt to rise to the area above 1480. Cancellation of the forecast will be the fixation of the Ethereum level below the support level.

Thus, the Ethereum price forecast for January 29 suggests an attempt to increase the cryptocurrency rate.

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