Ethereum ETH/USD is traded at the level of 718. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Ethereum. The Ichimoku Kinko Hyo Cloud upper boundary test is expected near the area of 705, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 810 level.
Ethereum forecast & analysis ETH/USD May 21, 2018
An additional signal in favor of the growth of the cryptocurrency will be the support area test, as well as the upper bound of the «Triangle» model. Earlier, a weak signal was received for buy of the Ethereum cryptocurrency, due to the crossing of the signal lines at 685 level.
The abolition of the Ethereum growth option will be the breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and the closing below the level of 680, which will indicate a shift in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD is with a breakdown of the resistance area and closing above the level of 750.
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