Ethereum ETH/USD is trading at 857. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near the level of 870, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 725. An additional signal in favor of the drop of the cryptocurrency will be a test of the resistance level.
Ethereum forecast & analysis ETH/USD on February 27, 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 820. Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 910, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 770.
In favor of falling quotations of the cryptocurrency Ethereum is the formation of the bearish model of «Wolfe Wave». It is worth waiting for the test level 905 and continuing the fall with a target below the level of 700.
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