Ethereum ETH/USD is traded at the level of 955. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of 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 falling of the cryptocurrency with a target at 680. An additional signal in favor of the drop of the cryptocurrency will be a test of the resistance level, as well as a test of the lower boundary of the bullish channel.
Ethereum forecast & analysis ETH/USD on February 4, 2018
Earlier, we received a weak signal for sell of the Ethereum cryptocurrency, due to the crossing of signal lines at level 1100. The cancellation of the Ethereum fall option will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1150, indicating 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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