Ethereum ETH/USD is traded at the level of 407. The cryptocurrency is traded 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 420 is expected, from which we should expect a rebound and an attempt to continue falling ETH/USD with a target below the level of 370.
Ethereum forecast & analysis ETH/USD August 3, 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 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 450 area, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. To expect the acceleration of falling quotations ETH/USD is worth a breakdown of the support area and closing below the level of 400.
Ethereum forecast & analysis ETH/USD August 3, 2018 suggests an attempt to develop a correction of the cryptocurrency and a test of level 420, from which it is expected to continue the fall of the Ethereum rate with a potential target near the level of 370, the cancellation of the decline option will make a strong growth and breakdown of the region 450.