Ethereum ETH/USD is closing the trading week near the area of 797. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Ethereum. The Ichimoku Kinko Hyo cloud is expected to test near the 840 level, from which it is expected to attempt a rebound and continue the fall of the cryptocurrency with a target at 550. An additional signal in favor of the drop of the cryptocurrency will be a test of the resistance level, as well as the formation of the «Head and Shoulders» reversal model.
Ethereum (ETH/USD) weekly forecast February 5 — 9, 2018
Earlier, a weak signal was received for sell of the Ethereum cryptocurrency, due to the crossing of signal lines at the level of 1050. Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1060, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations ETH/USD stands with a breakdown of the level of 710.
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