Ethereum ETH/USD is traded at the level of 780. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Ethereum. The test area of the Ichimoku Kinko Hyo signal lines near the area of 725 is expected, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at 890 level.
Ethereum forecast & analysis ETH/USD May 5, 2018
An additional signal in favor of the growth of the cryptocurrency will be the test of the support area, as well as the test of the lower boundary of the channel. Earlier, a strong signal was received for buy of the Ethereum, due to the crossing of the signal lines at the level of 650.
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 640, which will indicate a change in the bullish trend in favor of a bearish trend. Expect to accelerate the growth of quotations ETH/USD stands with the breakdown of the resistance area and closing above the level of 820.
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