Ethereum Classic ETC/USD is trading at the level of 30.28. 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 area of Ichimoku Kinko Hyo signal lines near 29.50 is expected, from which it is expected to attempt a rebound and continue growth with the target near the level of 36.55. An additional signal in favor of the growth of the cryptocurrency will be a test of the lower boundary of the channel.
Ethereum Classic forecast & analysis on January 7, 2018
Earlier, we received a weak signal for sell of the Ethereum Classic cryptocurrency, due to crossing of the signal lines at the level of 30.20. 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 26.30, indicating a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations ETC/USD stands with a breakdown of the level of 33.50.
It is not necessary to exclude the reversal model «Head and Shoulders» is formed. In this case, with a level breakdown of 27.00, it is worth reviving the continuation of the fall with a potential target near the level of 20.30. Canceling the model will break through the level of 33.50.