Ethereum ETH/USD is trading at 861. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Ethereum. Ichimoku Kinko Hyo signal line area test is near the 900 level, from which we expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 640. An additional signal in favor of the drop of the cryptocurrency will be a test of the resistance level, as well as the formation of the «Head and Shoulders» reversal model.
Ethereum forecast & analysis ETH/USD on February 5, 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 quotations above the area of 1050, 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 805.
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