Ethereum ETH/USD is traded at the level of 591. 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 560 level, from which it is expected to rebound and try to grow ETH/USD with a target above the level of 680.
Ethereum forecast & analysis ETH/USD June 3, 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 530, indicating a change in the flat trend in favor of the bearish trend and the continued fall in 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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