Ethereum ETH/USD is traded at the level of 272 and continues to move within the framework of the formation of the «Triangle» model. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. As part of the forecast of the digital currency exchange rate, the Ichimoku Kinko Hyo Cloud lower limit test is expected near the 275 level, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 235.
Ethereum forecast & analysis ETH/USD August 27, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, a medium strength signal was received for sell of the Ethereum cryptocurrency, due to the crossing of signal lines at level 290.
Cancellation of the variant of the Ethereum cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above the area of 295, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate the fall of quotations ETH/USD is with the breakdown of the bottom of the model «Triangle» and closing below the level of 255.
Ethereum forecast & analysis ETH/USD August 27, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the level 275, from which it is expected to continue the fall of the Ethereum rate with a potential target near the level of 235, the abolition of the decline option will be a strong growth and breakdown of the region 295, which will indicate the continued growth of the digital currency.
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