Ethereum ETH/USD is trading at 613. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of the bullish in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test near the 600 level, from which it is expected to rebound and try to grow ETH/USD with a target above the level of 720.
Ethereum forecast & analysis ETH/USD June 4, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area. 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.
The abolition of the growth scenario of the Ethereum cryptocurrency will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closing below 550, which will indicate a change in the bullish trend in favor of the bearish trend and the continued fall in the cryptocurrency. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the upper limit of the descending channel and the closing above the level of 600.
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