Ethereum Classic ETC/USD is trading at 31.30. 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 31.00, from which it is expected to attempt a rebound and continue growth with the aim near the level of 38.05.
Ethereum Classic forecast & analysis on January 8, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the lower boundary of the channel. Earlier, a strong signal was received for the buy of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at 30.00.
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 26.50, which indicates a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations ETC/USD is worth a breakdown of the level of 33.70.
It is not necessary to exclude the reversal model “Head and shoulders” is formed. In this case, with a level breakdown of 27.00, it is worth reviving the continuation of the fall with a potential target near the level of 20.30. Canceling the model will break through the level of 33.50.