Ethereum ETH/USD is trading at 779. The cryptocurrency is traded 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 cryptocurrency with a target at the level of 520. 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.
Ethereum forecast & analysis ETH/USD on February 9, 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 780. 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 950, 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 650.
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