Ethereum ETH/USD is traded at 729. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, indicating a bullish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test the upper boundary near area 715, from which we should expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at the level of 900.
Ethereum forecast & analysis ETH/USD May 8, 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 cryptocurrency, 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 closing below the level of 670, which will indicate a change in the bullish trend in favor of a bearish trend. Expect an acceleration in the growth of quotations ETH/USD stands with the breakdown of the resistance area and closing above the level of 850.
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