Ethereum ETH/USD is trading at the level of 1080. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Ethereum. Ichimoku Kinko Hyo Cloud near the 1045 level is expected to be tested near the level of 1045, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 1200.
Ethereum forecast & analysis ETH/USD on February 1, 2018
Earlier, we received a weak signal for sell of Ethereum cryptocurrency, by crossing the signal lines at 1100 level. The abolition of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 970, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the level of 1300.
However, we should not exclude the attempt to form the reversal model «Head and Shoulders». In this case, with the breakdown of the level 985, we should expect the model to end and the price of the cryptocurrency will fall below 740. The breakdown of the model will be a breakdown at level 1200.
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