Ethereum ETH/USD is traded at 489. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Ethereum. Ichimoku Kinko Hyo signal lines are expected to be near the 475 level, from which we should expect a rebound and an attempt to continue the growth of ETH/USD with a target above 545.
Ethereum forecast & analysis ETH/USD July 9, 2018
An additional signal in favor of the growth of the cryptocurrency will be the support area test, as well as the upper bound of the «Triangle» model. Earlier, a strong signal was received for buy of the Ethereum cryptocurrency, due to the crossing of the signal lines at level 465.
Cancellation of the growth scenario of the Ethereum cryptocurrency will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closure below area 440, which will indicate a change in the bullish trend in favor of the bearish and the continued decline in the crypto currency. Expect an acceleration in the growth of quotations ETH/USD stands with the breakdown of the upper boundary of the descending channel and the closing above the level of 505.
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