Ethereum Classic ETC/USD is trading at the level of 14.33. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in the Ethereum Classic. Ichimoku Kinko Hyo Cloud Cloud Test is expected near the area of 15.50, from which it is expected to attempt a rebound and continue falling with the target near the level of 8.50.
Ethereum Classic forecast & analysis on March 20, 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 a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the 17.00 area, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETC/USD is with the breakdown of the support area and closing below the level of 10.00.
However, we should not exclude the formation of the reversal model «Head and Shoulders». In this case, after the test of level 12.20, we should expect the beginning of growth of quotations with a potential target above the level of 20.00. The cancellation of the variant of the model formation will be a breakdown of the level of 11.00.
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