Ethereum ETH/USD is closing the trading week near the 848 area. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Ethereum. The test area of the Ichimoku Kinko Hyo signal lines near the level 860 is expected, from which it is expected to attempt a rebound and continue falling of the cryptocurrency with a target at the level of 550.
Ethereum (ETH/USD) weekly forecast March 5 — 9, 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 cryptocurrency, due to the crossing of 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 quotes above the area of 1000, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETH/USD is with the breakdown of the support area and closing below the level of 740.
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