Ethereum Classic ETC/USD is trading at 18.93. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Ethereum Classic. The test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the area at 18.00, from which it is expected to attempt a rebound and continue growth with the aim near the level of 22.00.
Ethereum Classic forecast & analysis April 26, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area, as well as the test of the lower boundary of the channel. Earlier, a medium strength signal was received for buy of the Ethereum Classic cryptocurrency, by crossing the signal lines at the level of 13.70.
The cancellation of the growth scenario for Ethereum Classic quotations will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 17.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of ETC/USD is with the breakdown of the resistance area and the closing above the level of 23.00.
However, we should not exclude the attempt to form the reversal model «Head and Shoulders». In this case, with the breakdown of the area of 17.50, one should expect the continuation of the fall in the prices of the cryptocurrency.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
