Ethereum Classic ETC/USD is traded at the level of 15.00. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Ethereum Classic. The test area of Ichimoku Kinko Hyo signal lines is expected near the area at 17.00, from which it is expected to attempt a rebound and continue falling with the target near the level of 9.50.
Ethereum Classic forecast & analysis on March 16, 2018
An additional signal in favor of the drop will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for sell of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at the level of 31.90.
The cancellation of the drop in Ethereum Classic quotations will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the area of 22.00, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the drop in quotations ETC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 10.50.
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