Ethereum Classic ETC/USD is trading at the level of 20.12. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish 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 the fall with a target near the level of 15.50.
Ethereum Classic forecast & analysis on March 8, 2018
An additional signal in favor of the fall will be the test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received for sell of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at the level of 31.90.
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 27.50, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the decline in quotes ETC/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 18.00.
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