Ethereum ETH/USD is closing the trading week near the area of 507. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the level of 600 is expected, from which it is expected to attempt a rebound and continue the fall of the crypto currency with a target at level 300.
Ethereum (ETH/USD) forecast April 16 — 20, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, a strong signal was received for sell of the Ethereum, due to the crossing of the signal lines at the level of 860.
Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 700, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 450.