Ethereum Classic ETC/USD is trading at 10.97 and continues to move in line with the decline. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend. As part of the Ethereum Classic forecast & analysis October 4, 2018, the Ichimoku Kinko Hyo Cloud lower bound is expected to test near the 11.20 area, from which one can expect an attempt to rebound and continue cryptocurrency decline with a target near the 10.00 level.
Ethereum Classic forecast & analysis October 4, 2018
An additional signal in favor of the fall in the cryptocurrency ETC/USD will be the test of the resistance area, as well as a rebound from the upper border of the «Triangle» model. Earlier, a weak signal was received for sell of Ethereum Classic cryptocurrency, due to the crossing of signal lines at the level of 11.25.
The cancellation of the Ethereum Classic quote reduction option will be a strong growth and a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above the 11.20 area, which will indicate a change in the downward trend in favor of the upward trend and the continued growth of cryptocurrency. Expect confirmation of a fall in ETC/USD quotes with a breakdown of the lower boundary of the «Triangle» model and closing below 10.50.
Ethereum Classic forecast & analysis October 4, 2018 suggests an attempt to develop cryptocurrency correction and test level of 11.20, where we can expect further decline of Ethereum Classic with a potential target near the level of 10.00, strong growth and breakdown of the option of 11.20, which indicates on the continued growth of the digital currency.
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