Ethereum ETH/USD is traded at the level of 959. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Ethereum. The Ichimoku Kinko Hyo signal line area test is near the 930 level, from which we expect a rebound and an attempt to continue the growth of the crypto currency with a target at 1150.
Ethereum forecast & analysis ETH/USD on January 7, 2018
An additional signal in favor of the growth of the ETH/USD cryptocurrency will be a test of the lower boundary of the channel. Earlier, a strong signal was received for buy of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 670. The abolition of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 840, which will indicate a shift in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD is with a breakdown of the local maximum and closing above the level of 1020.