Ethereum ETH/USD is trading at 680. 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 area 720 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at the level of 600.
Ethereum forecast & analysis ETH/USD May 12, 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 crossing of signal lines at the level of 770.
The abolition of the Ethereum fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the close above the level of 770, which indicates 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 650.
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