Ethereum ETH/USD is traded at the level of 407. 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 Cloud is expected to test near the 420 level, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 360.
Ethereum forecast & analysis ETH/USD August 6, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area, as well as a 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.
Cancellation of the variant of the Ethereum crypto currency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above the 445 area, 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 in quotations ETH/USD is with the breakdown of the lower boundary of the model «Triangle» and the closure below the level of 395.
Ethereum forecast & analysis ETH/USD August 6, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of level 420, from which it is expected to continue the fall of the Ethereum exchange rate with a potential target near the level of 360, the cancellation of the decline option will cause a strong growth and breakdown of the region 445.