Ethereum ETH/USD is trading at 225 and continues to move as part of the correction and the formation of the «Triangle» model. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend in Ethereum. As part of the Ethereum forecast & analysis ETH/USD October 8, 2018, a test of the upper limit of the Ichimoku Kinko Hyo Cloud is expected near the level of 227, from where a rebound is expected and an attempt to continue the fall of ETH/USD with a target below the level of 200.
Ethereum forecast & analysis ETH/USD October 8, 2018
An additional signal in favor of reducing cryptocurrency will be the test of the resistance level, as well as the test of the upper limit of the «Triangle» model. 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 ETH/USD stands with the breakdown of the lower boundary of the model «Triangle» and closing below 215.
Ethereum forecast & analysis ETH/USD October 8, 2018 suggests an attempt to develop a correction of cryptocurrency and test level 227, 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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