Ethereum ETH/USD is traded at 499. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test near the 510 level, from which we expect a rebound and an attempt to drop ETH/USD with a target below the 420 level.
Ethereum forecast & analysis ETH/USD June 17, 2018
An additional signal in favor of the fall of the cryptocurrency will be the resistance area test, as well as the upper bound of the «Triangle» model. Earlier, a strong signal was received for sell of the Ethereum cryptocurrency, by crossing the signal lines at the level of 498.
The abolition of the Ethereum cryptocurrency fall variant will be the breakdown of the upper Ichimoku Kinko Hyo Cloud and the closing above the 540 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 quotations ETH/USD is with the breakdown of the lower boundary of the model «Triangle» and the closing below the level of 460.
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