Ethereum ETH/USD is trading at 402. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The test area of Ichimoku Kinko Hyo signal lines near level 410 is expected, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 365.
Ethereum forecast & analysis ETH/USD August 7, 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 cryptocurrency 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 upward trend and the continued growth of the crypto currency. 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 7, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of level 410, from which it is expected to continue the fall of the Ethereum rate with a potential target near the level of 365, the abolition of the decline option will make a strong growth and breakdown of the region 445.