Ethereum ETH/USD is traded at the level of 524. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a bearish trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test the lower boundary near area 540, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 415.
Ethereum forecast & analysis ETH/USD on March 24, 2018
An additional signal in favor of the fall of the cryptocurrency will come from the upper bound of the «Triangle» model. Earlier, a medium strength signal was received for sell of the Ethereum cryptocurrency, due to the crossing of the signal lines at the level of 530.
Cancellation of the Ethereum fall variant will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above 590, which indicates a change in the bearish trend in favor of the bullish trend. Expect the acceleration of the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 470.