Ethereum ETH/USD is trading at 566. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test near the 540 level, from which it is expected to rebound and try to grow ETH/USD with a target above the level of 675.
Ethereum forecast & analysis ETH/USD June 2, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area, as well as the formation of the «Head and Shoulders» reversal model. Earlier, a weak signal was received for buy of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 570.
Cancellation of the growth scenario of the Ethereum cryptocurrency will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and a close below 510, which will indicate the cancellation of the Head and Shoulders reversal pattern and the continued fall of the cryptocurrency. To expect confirmation of the growth of quotations ETH/USD stands with the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 600.
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