Ethereum ETH/USD is closing the trading week near the area of 705. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The test area of Ichimoku Kinko Hyo signal lines near the level of 830 is expected, from which it is expected to attempt a rebound and continue the fall of the cryptocurrency with a target at the level of 500.
Ethereum (ETH/USD) weekly forecast on March 12 — 16, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the resistance level, as well as a test of the upper boundary of the bearish channel. Earlier, a strong signal was received for sell of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 860.
Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotations above the area of 950, which indicates a change in the bearish trend in favor of the bullish trend. Expect to accelerate the fall in quotes ETH/USD is with the breakdown of the support area and closing below the level of 600.