Ethereum ETH/USD is trading at 617. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Ethereum. The test area of Ichimoku Kinko Hyo signal lines near the area of 600 is expected, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 710 level.
Ethereum forecast & analysis ETH/USD April 26, 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 area. Earlier, a strong signal was received for buy of the Ethereum, 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 545, 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 720.
However, we should not exclude the attempt to form the reversal model «Head and Shoulders». In this case, with the breakdown of the 550 area, it is expected to continue the fall of the quotations of the cryptocurrency.
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