Ethereum ETH/USD is traded at 587. The cryptocurrency is trading 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 675 level, from which it is expected to rebound and try to grow ETH/USD with a target above the level of 700.
Ethereum forecast & analysis ETH/USD June 5, 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.
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 545, which will indicate a change in the upward trend in favor of a bearish trend and the continued fall of the cryptocurrency. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the upper boundary of the descending channel and closing above the level of 630.
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