Ethereum ETH/USD is trading at 526. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. A support area test is expected near the 510 level, from which one should expect a rebound and an attempt to start the growth of the cryptocurrency with a target at 690 level.
Ethereum forecast & analysis ETH/USD on March 23, 2018
An additional signal in favor of the growth of the crypto currency is the formation of the reversal model «Head and Shoulders». A confirmation of the growth will be a breakdown of the «Neckline» of the reversal pattern and a close above the level of 570. Earlier, a weak signal was obtained for buy of the Ethereum cryptocurrency, by crossing the signal lines at the level of 520.
The abolition of the variant of Ethereum growth will be the breakdown of the 450 area, which will indicate the continuation of the fall. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the upper boundary of the Cloud Ichimoku Kinko Hyo and the closing above the level of 600, which indicates the change of the bearish trend in favor of the bullish trend.
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