Ethereum ETH/USD is trading at 256.76. Cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating an bullish trend in Ethereum. The drop of quotations of ETH/USD to the level of 236.00 is expected, from which one should expect an attempt of growth and further development of the bullish tendency on Ethereum with the target of growth near the level of 300.00.
Ethereum forecast & analysis ETH/USD on August 7, 2017
Earlier, a weak signal was received for buying of the Ethereum cryptocurrency, due to the crossing of signal lines at the level of 191.61. An additional signal in favor of the bullish trend will be a test of the support area. The cancellation of the growth scenario for Ethereum quotations will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 205.00, which will indicate a change in the bullish trend in favor of the bearish trend. Expect to accelerate the growth of quotations for ETH/USD is with the breakdown of the local maximum area at 288.00.
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