Ethereum Classic ETC/USD is trading at the level of 17.82. 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 of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the area of 18.00, from which one should expect a rebound attempt and continue falling with the target near the level of 14.00.
Ethereum Classic forecast & analysis May 18, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test, as well as the formation of the «Head and Shoulders» model. Earlier, a strong signal was received for the sell of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at 18.00.
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 21.50, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of ETC/USD is with the breakdown of the support area and closing below the level of 16.50.