Ethereum ETH/USD is trading at 223 and continues to move as part of the correction and the formation of the «Head and Shoulders» model. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Ethereum. As part of the Ethereum forecast & analysis ETH/USD October 6, 2018, a test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 225, from which one should expect a rebound and an attempt to continue the fall of ETH/USD with a target below the level of 200.
Ethereum forecast & analysis ETH/USD October 6, 2018
An additional signal in favor of reducing cryptocurrency will be the test of resistance level. Earlier, a weak signal was received for buy of Ethereum cryptocurrency, due to the crossing of signal lines at the level of 222.
Cancellation of the Ethereum cryptocurrency fall will break the upper boundary of the Ichimoku Kinko Hyo Cloud and close above area 235, indicating a change in the downward trend in favor of the upward trend and the continued growth of cryptocurrency. Expect confirmation of a drop in quotes of ETH/USD with the breakdown of the «Neckline» of the reversal pattern and closing below 210.
Ethereum forecast & analysis ETH/USD October 6, 2018 suggests an attempt to develop a correction of cryptocurrency and test level 225, from which we can expect the continuation of the fall of Ethereum with a potential target near level 200, cancellation of the reduction option will be a strong growth and breakdown of the area 235, which will indicate the continued growth of the digital currency.
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