Ethereum ETH/USD is traded at the level of 299. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. As part of the forecast for the digital currency, the Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 315, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 245.
Ethereum forecast & analysis ETH/USD August 20, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test, as well as the formation of the «Head and Shoulders» reversal model. Earlier, a medium strength signal was received to sell the Ethereum cryptocurrency, by crossing the signal lines at 285.
Canceling the variant of the Ethereum crypto currency fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the 325 area, which indicates a change in the flat trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 270, which indicates the completion of the formation of the reversal model «Head and Shoulders».
Ethereum forecast & analysis ETH/USD August 20, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level 315, from which it is expected to continue the fall of the Ethereum rate with the potential target near the level of 245, the abolition of the decline option will make a strong growth and breakdown of the region 325.
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