Ethereum ETH/USD is traded at 588. 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 630 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 485 level.
Ethereum forecast & analysis ETH/USD on March 17, 2018
An additional signal in favor of the fall of the cryptocurrency will come from the lower channel test, as well as the resistance level test. Earlier, a strong signal was received for sell of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 690.
The cancellation of the Ethereum fall option will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 680, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the drop in quotations ETH/USD stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 495.
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