Ethereum ETH/USD is traded at 828. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend in Ethereum. Ichimoku Kinko Hyo Cloud near the level 835 is expected to be tested near the level of 835, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 600. An additional signal in favor of the drop of the cryptocurrency will be a resistance level test.
Ethereum forecast & analysis ETH/USD on February 12, 2018
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. 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 900, which indicates the change of 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, with a breakdown of the «Neckline» level and a close above 920, we should expect the growth of Bitcoin quotations to continue above the level of 1340.
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