Ethereum ETH/USD is traded at 748. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. The test of the lower boundary of Ichimoku Kinko Hyo Cloud near the area 725 is expected, from which one should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at the level of 900.
Ethereum forecast & analysis ETH/USD May 10, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area, as well as the test of the lower boundary of the channel. Earlier, a weak signal was received for sell of the Ethereum cryptocurrency, due to the intersection of signal lines at the level of 770.
The abolition of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closure below the level of 690, which will indicate a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the resistance area and closing above the level of 800.
In favor of the growth of the pair of quotations of the Ethereum cryptocurrency is also the formation of the reversal model inverted «Head and Shoulders» at small time intervals.
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