Ethereum ETH/USD is traded at 616. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. A support level test is expected near the level of 600, from which we should expect a rebound and an attempt to grow the crypto currency with the target at the level of 700. Earlier, we received a weak signal for buy of Ethereum cryptocurrency due to the crossing of signal lines at 620.
Ethereum forecast & analysis ETH/USD on December 25, 2017
The abolition of the Ethereum growth scenario will be a breakdown of the support level with closing quotations below the area of 560, which indicates the continuation of the fall below the level of 450. Expect an acceleration in the growth of quotations ETH/USD stands with the breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo and the closing above the level of 730.
Do not exclude the attempt to model «Head and Shoulders», so a breakdown level 760 should not expect the resumption of growth with the target above 960 level.
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