Ethereum ETH/USD is closing the trading week near the area of 1027. The cryptocurrency is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Ethereum. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the 840 level, from which it is expected to attempt a rebound and continue the growth of the cryptocurrency with a target at 1350. An additional signal to benefit from the growth of the cryptocurrency will come from the support level test.
Ethereum (ETH/USD) weekly forecast January 22 — 26, 2018
Earlier, a strong signal was received for buy of the Ethereum cryptocurrency, due to the crossing of signal lines at 610 level. The cancellation of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 700, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations ETH/USD is worth a breakdown of the level of 1200.
It is not necessary to exclude the attempt to form the reversal model «Head and Shoulders». In this case, with the breakdown of the level 690, we expect to continue the decline as part of the model’s development.
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