Ethereum ETH/USD is trading at 212 and continues to move as part of strong growth. Cryptocurrency is trading above the upper boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of an upward trend in Ethereum. As part of the Ethereum forecast & technical analysis November 5, 2018, a test of the Ichimoku Kinko Hyo signal lines is expected near the level of 205. Where should we expect a rebound and an attempt to continue the growth of ETH/USD with a target higher than 230.
Ethereum forecast & technical analysis November 5, 2018
An additional signal in favor of the growth of cryptocurrency will be the test of the support level, as well as the test of the lower boundary of the ascending channel. Earlier, a strong signal was received for buy the Ethereum cryptocurrency, due to the intersection of signal lines at the level of 196.
The cancellation of the Ethereum cryptocurrency growth option will be the breakdown of the Ichimoku Kinko Hyo Cloud and the closure below area 195. This scenario will indicate a change in the upward trend in favor of the downward trend and the continuation of the fall in cryptocurrency. ETH/USD is expected to accelerate the growth of quotes with the breakdown of the resistance area and closing above the 220 level.
Ethereum forecast & technical analysis November 5, 2018 suggests an attempt to develop a correction of cryptocurrency and test level 205, from which it is necessary to expect the continuation of the growth rate of Ethereum with a potential goal near the level of 230. Cancellation of the growth option will be the fall and a breakdown of the area 195 that indicates on the continued depreciation of the digital currency.