Ethereum ETH/USD is traded at 830. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates a flat trend in Ethereum. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 835, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at the level of 650. An additional signal in favor of the drop of the cryptocurrency will be the 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 790.
Ethereum forecast & analysis ETH/USD on February 13, 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 880, 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, with a breakdown of the «Neckline» level and a close above 890, we should expect the growth of Bitcoin quotations to continue above the level of 1340.
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