Ethereum Classic ETC/USD is trading at the level of 22.66. 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 the Ichimoku Kinko Hyo signal lines near the area of 21.50 is expected, from which it is expected to attempt a rebound and continue growth with the target near the level of 26.00.
Ethereum Classic forecast & analysis May 5, 2018
An additional signal in favor of the growth of the cryptocurrency will be the upper bound of the «Triangle» model, as well as the test of the channel. Earlier, a strong signal was received for buy of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at the level of 21.00.
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 20.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of ETC/USD is with the breakdown of the resistance area and the closing above the level of 23.00.
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