Ethereum ETH/USD is traded at the level of 733. The cryptocurrency is traded above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates a bullish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test the lower 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 9, 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 weak signal was received for sell of the Ethereum cryptocurrency, due to the crossing of signal lines at the level of 770.
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 680, 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.
In favor of the growth of the pair ETH/BTC is also the formation of the bullish model «Wolfe Wave». The target of working out this model is the area at the level of 0.1070.
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