Ethereum ETH/USD is traded at 697. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The test area of the Ichimoku Kinko Hyo signal lines near the level of 725 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at the level of 580.
Ethereum forecast & analysis ETH/USD on March 12, 2018
An additional signal in favor of the fall of the cryptocurrency will be a resistance level test. Earlier, a medium strength signal was received for sell of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 840.
Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 805, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall of quotations ETH/USD is with the breakdown of the lower boundary of the model «Triangle» and closing below the level of 620.
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