Ethereum ETH/USD is traded at 699. The cryptocurrency is traded within the Ichimoku Kinko Hyo Cloud, which indicates the presence of a flat trend in Ethereum. Ichimoku Kinko Hyo Cloud is expected to test the upper boundary near area 720, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at the level of 600.
Ethereum forecast & analysis ETH/USD May 18, 2018
An additional signal in favor of the fall of the cryptocurrency will be the resistance area test, as well as the upper bound of the «Triangle» model. Earlier, a medium strength signal was obtained to sell the Ethereum cryptocurrency, by crossing the signal lines at the level of 700.
The abolition of the Ethereum fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and a close above the level of 760, which indicates a change in the flat trend in favor of the bullish trend. Expect to accelerate the fall in quotations ETH/USD is with the breakdown of the support area and closing below the level of 650.