Ethereum ETH/USD is traded at the level of 705. The cryptocurrency is traded 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 upper boundary near area 710, from which we should expect a rebound and an attempt to continue the fall of the cryptocurrency with a target at level 560.
Ethereum forecast & analysis ETH/USD May 20, 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 cancellation 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 740, which indicates a change in the bearish 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 640.