Ethereum Classic ETC/USD completes the trading week near the area of 9.67. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a downward trend in Ethereum Classic. The current trading week is expected to test the lower limit of the Ichimoku Kinko Hyo Cloud near 10.30, from which one should expect an attempt to rebound and continue the development of a bearish trend with a target below 7.50.
Ethereum Classic forecast October 29 — November 2, 2018
An additional signal in favor of the cryptocurrency fall is the test of the upper limit of the downward channel, as well as the test of the resistance level. Earlier, a strong signal was received for SELL the Ethereum Classic cryptocurrency, due to the crossing of signal lines at the level of 10.10.
Canceling the option of falling ETC/USD quotes will break the upper boundary of the indicator cloud and close above 12.20, indicating a change in the bearish trend in favor of an upward trend. Expect to accelerate the fall of quotations is with the breakdown of the lower boundary of the channel and closing below 700.
Ethereum Classic forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to the level of 10.30, from which one should expect a rebound and continue to fall in cryptocurrency with a potential target near the level of 7.50, the test of the resistance level will come out in favor, the breakdown will be canceled area 12.20, in this case, we can expect continued growth of Ethereum Classic.