Ethereum ETH/USD is traded at 862. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 875, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 740.
An additional signal in favor of the drop of the cryptocurrency will be a resistance level test. Earlier, a weak signal was received for buy of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 780.
Ethereum forecast & analysis ETH/USD on February 11, 2018
Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 930, which indicates a change in the flat trend in favor of the bullish trend. Expect the acceleration of the fall in quotes ETH/USD stands with the breakdown of the lower boundary of the Cloud and the closing below the level of 680.
It is not necessary to exclude the formation of the reversal model «Head and Shoulders». In this case, after the test level 740 quotes may begin to grow. With the breakdown of the level of the «Neckline» and the closing above 910, the target of Ethereum growth will be the area above the level of 1340.
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