Ethereum ETH/USD is traded at the level of 357. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Ethereum. Ichimoku Kinko Hyo signal line area test is near the 370 level, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 300.
Ethereum forecast & analysis ETH/USD August 11, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the upper boundary of the bearish channel. Earlier, a medium strength signal was received to sell the Ethereum cryptocurrency, by crossing the signal lines at level 465.
The abolition of the Ethereum cryptocurrency fall variant will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the 400 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. To expect the acceleration of the drop in quotes ETH/USD stands with the breakdown of the support area and the closing below the level of 335.
Ethereum forecast & analysis ETH/USD August 11, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level of 370, from which it is expected to continue the fall of the Ethereum rate with a potential target near the level of 300, the abolition of the decline option will cause a strong growth and breakdown of the region 400.
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