Ethereum ETH/USD is traded at the level of 931. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Ethereum. The test area of Ichimoku Kinko Hyo signal lines near the 970 level is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 710. An additional signal in favor of the drop of the cryptocurrency will be a resistance level test.
Ethereum forecast & analysis ETH/USD on February 3, 2018
Earlier, we received a weak signal for sell of the Ethereum cryptocurrency, due to the crossing of signal lines at level 1100. 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 1170, 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 800.
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