Ethereum ETH/USD is trading at 813. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The Ichimoku Kinko Hyo cloud is expected to test near the 830 level, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 735 level.
Ethereum forecast & analysis ETH/USD on March 7, 2018
An additional signal in favor of the fall of the crypto currency is the breakdown of the lower boundary of the bearish channel. 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 quotes above the 850 area, which will indicate a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotes ETH/USD is with the breakdown of the support area and closing below the level of 755.
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