Ethereum Classic ETC/USD is trading at the level of 26.71. Cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in the Ethereum Classic. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near 25.95, from which it is expected to attempt a rebound and continue growth with the target near the 32.30 level.
Ethereum Classic forecast & analysis on December 7, 2017
An additional signal in favor of the growth of quotations of cryptocurrency will be a test below the border of the bullish channel. In favor of growth is also the formation of the bull model of «Wolfe Wave» with the goal of growth at the level of 32.50.
The cancellation of the model is a breakdown of the level of 25.00. Earlier, we received a weak signal for sell of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at the level of 29.50. Cancellation of the growth scenario of quotations Ethereum Classic will be a breakdown of the lower boundary of the Cloud Ichimoku Kinko Hyo with a close below the area of 25.50, which indicates the change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations ETC/USD stands with the breakdown of the upper boundary of the Cloud and the closing above the level of 28.50.