Ethereum ETH/USD is traded at the level of 317. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Ethereum. The test area of Ichimoku Kinko Hyo signal lines near level 345 is expected, from which one should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 260.
Ethereum forecast & analysis ETH/USD August 13, 2018
An additional signal in favor of the fall of the cryptocurrency will be a test of the upper boundary of the channel, as well as a test of the resistance level. Earlier, a medium strength signal was received to sell the Ethereum cryptocurrency, by crossing the signal lines at level 465.
Cancellation of the variant of the Ethereum cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above the 380 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect to accelerate the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 300.
Ethereum forecast & analysis ETH/USD August 13, 2018 suggests an attempt to develop a correction of the cryptocurrency and the 345 level test, from which it is expected to continue the fall of the Ethereum rate with a potential target near the level of 260, the abolition of the decline option will make a strong growth and breakdown of the region 380.