Ethereum ETH/USD is trading at 819. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud near the 840 level is expected to be tested near the level of 840, from which we expect a rebound and an attempt to continue the fall of the crypto currency with a target at the level of 520.
Ethereum forecast & analysis ETH/USD on February 8, 2018
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 upper boundary of the bearish channel. 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 990, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETH/USD is with the breakdown of the support area and closing below the level of 600.
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