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.
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