Ethereum ETH/USD is traded at the level of 645. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Ethereum. A test of the Ichimoku Kinko Hyo signal line area near the area 590 is expected, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 720 level.
Ethereum forecast & analysis ETH/USD April 24, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the lower border of the channel, and such is the test of the support level. Earlier, a strong signal was received for buy of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 515.
The abolition of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closing below the level of 510, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the resistance area and closing above the level of 650.
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