Ethereum ETH/USD is trading at the level of 1045. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The Ichimoku Kinko Hyo signal line area test is near the 1100 level, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 800.
Ethereum forecast & analysis ETH/USD on January 19, 2018
An additional signal in favor of the drop will be the test of the upper boundary of the bearish channel. Earlier, a weak signal was received for sell of the Ethereum cryptocurrency, due to crossing of the signal lines at the level of 1190.
Also in favor of the decline is the formation of the bearish model «Wolfe Wave». The target of the model is the area at the 850 level.
Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 1200, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETH/USD stands with a breakdown of the level of 900.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
