Ethereum ETH/USD is traded at the level of 852. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. Ichimoku Kinko Hyo Cloud near the 870 level is expected to be tested near the 870 level, from which one 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 resistance level test.
Ethereum forecast & analysis ETH/USD on February 28, 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. Canceling the model will break through the area of 950.
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