Ethereum ETH/USD is traded at 682. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud cloud test is expected near the area of 695, 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 23, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area. 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 fall will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 720, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETH/USD is with the breakdown of the bottom of the model «Triangle» and closing below the level of 650, which indicates the confirmation of the development of the bearish trend.
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