Ethereum Classic ETC/USD is trading at 16.80. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in the Ethereum Classic. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 15.85, from which it is expected to attempt a rebound and continue growth with the target near the level of 20.20.
Ethereum Classic prediction & analysis on November 16, 2017
Earlier, we received a weak signal for sell of the Ethereum Classic cryptocurrency, due to the crossing of the signal lines at the level of 17.00. 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 14.50, 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 at 20.50 level. We should not exclude the attempt to form the reversal pattern «Head and Shoulders», therefore, with the breakdown of the level of 14.00, we should expect the continuation of the fall into the area of local minimum.
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