Ethereum ETH/USD is trading at the level of 1297. The cryptocurrency is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Ethereum. The Ichimoku Kinko Hyo signal line area test is expected near the level of 1200, from which one should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 1550.
Ethereum forecast & analysis ETH/USD on January 14, 2018
An additional signal in favor of growth will be a test of the lower boundary of the bullish channel. Earlier, a strong signal was received for buy of the Ethereum cryptocurrency, due to the crossing of signal lines at the level of 1190. The abolition of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the area of 1020, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the upper limit of the model «Triangle» and closing above the level of 1350.