Ethereum ETH/USD is traded at the level of 594. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bullish trend in Ethereum. The Ichimoku Kinko Hyo Cloud upper limit test is expected near the level of 575, 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 7, 2018
An additional signal in favor of the growth of the cryptocurrency will be a test of the support area, as well as a test of the upper boundary of the channel. 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 cancellation of the growth scenario of the Ethereum cryptocurrency will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closure below the 545 area, which will indicate a shift 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 resistance area and the closing above the level of 635.
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