Ethereum ETH/USD is traded at 698. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. The test area of the Ichimoku Kinko Hyo signal lines near the area of 690 is expected, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 785 level.
Ethereum forecast & analysis ETH/USD May 22, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area. Earlier, a weak signal was received for buy of the Ethereum cryptocurrency, due to the intersection 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 closure below the level of 670, which indicates a change in the flat trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD is with the breakdown of the resistance area and closing above the level of 740.
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