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. 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 8, 2018
An additional signal in favor of the fall of the cryptocurrency will be the resistance area test, as well as the upper bound of the «Triangle» model. Earlier, a medium strength signal was received to sell the Ethereum cryptocurrency, by crossing the signal lines at level 465.
The abolition of the Ethereum cryptocurrency fall variant will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the 440 area, which will indicate a change in the bearish trend in favor of the bullish 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 8, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of the 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 area 440.