Ethereum ETH/USD is traded at the level of 298. 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 near the level 295, from which we expect a rebound and an attempt to continue the growth of the cryptocurrency with a target at level 320. Earlier, we received a medium strength signal for buy of the Ethereum cryptocurrency, by crossing the signal lines at level 291.
Ethereum forecast & analysis ETH/USD on November 8, 2017
Canceling the growth variant Ethereum will be a breakdown of the lower boundary of the Cloud of Ichimoku Kinko Hyo with the closing of quotes below area 285, 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 a breakdown of the level of 305. An additional signal in favor of the growth of the cryptocurrency is the formation of the reversal model «Head and Shoulders».
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