Ethereum ETH/USD is traded at the level of 453. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test near the level 460, from which we expect a rebound and an attempt to continue falling ETH/USD with a target below 415 level.
Ethereum forecast & analysis ETH/USD July 31, 2018
An additional signal in favor of the fall of the cryptocurrency will be the test of the triangle model boundary, as well as the test of the lower boundary of the rising channel. Earlier, a medium strength signal was received to sell the Ethereum cryptocurrency, by crossing the signal lines at level 465.
Cancellation of the variant of the Ethereum crypto currency fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the 480 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate the fall in quotes ETH/USD is with the breakdown of the support area and closing below the level of 445.