Ethereum Classic ETC/USD is trading at 23.53. 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 is expected near the area of 23.00, from which it is expected to attempt a rebound and continue growth with the aim near the level of 28.00.
Ethereum Classic forecast & analysis May 8, 2018
An additional signal in favor of the growth of the cryptocurrency will be the upper bound of the «Triangle» model. 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 the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with a close below the area of 21.00, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of ETC/USD is with a breakdown of the resistance area and closing above the level of 25.50.
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