Ethereum ETH/USD is traded at 448. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test near the 450 level, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below 405 level.
Ethereum forecast & analysis ETH/USD July 16, 2018
An additional signal in favor of reducing the cryptocurrency will be a test of the resistance region, as well as the upper boundary of the bearish channel. Earlier, a weak signal was received for sell of the Ethereum cryptocurrency, due to the crossing of the signal lines at level 470.
Cancellation of the variant of the Ethereum cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above the 465 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. To expect confirmation of the fall in quotes ETH/USD stands with the breakdown of the bottom of the uplink and closing below the level of 420.
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