Ethereum ETH/USD is traded at the level of 594. The cryptocurrency is traded below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Ethereum. The test area of the Ichimoku Kinko Hyo signal lines near the area of 620 is expected, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at 480.
Ethereum forecast & analysis ETH/USD May 26, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 695.
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 670, 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 support area and the closure below the level of 535.