Ethereum ETH/USD is traded at 841. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test near the 850 level, from which it is expected to rebound and try to continue the fall of the cryptocurrency with a target at 765 level.
Ethereum forecast & analysis ETH/USD on March 6, 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, by crossing the signal lines at 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 quotes above the area of 870, which will indicate a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 815.
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