Ethereum ETH/USD is trading at 1253. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating 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 16, 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.
Cancellation of the Ethereum growth option will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes below the area of 1070, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD is with a breakdown of the resistance level and closing above 1360.
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