Ethereum Classic forecast & analysis May 16, 2018


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Ethereum Classic ETC/USD is trading at the level of 18.81. 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 is expected to test the lower boundary near the area at 19.00, from which it is expected to attempt a rebound and continue the fall with a target near the level of 14.50.

Ethereum Classic forecast & analysis May 16, 2018

An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. 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 23.50.

Ethereum Classic forecast & analysis May 16, 2018

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 ​​21.50, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of ETC/USD is with the breakdown of the bottom of the uplink and closing below the level of 16.5


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