Ethereum ETH/USD is traded at 553. 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 is expected near the area of 565, from which one should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 440.
Ethereum forecast & analysis ETH/USD May 31, 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 610, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETH/USD is worth a breakdown of the support area and closing below the level of 500.
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