Ethereum is trading at 166.49 and continues to move in the framework of the correction and the formation of the «Triangle» model. ETH/USD quotes are moving inside Ichimoku Kinko Hyo clouds. This indicates the presence of a lateral trend on Ethereum. As part of the forecast for Ethereum on April 22, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 163.45. Where can we expect a rebound and an attempt to continue the growth of ETH/USD with the tarhet above the level of 192.55.
Ethereum Forecast and Analysis ETH/USD April 22, 2019
An additional signal in favor of the growth of cryptocurrency will be the test of the support area. The second signal in favor of raising the digital asset rate will be a rebound from the lower boundary of the «Triangle» model. Earlier, a weak signal was received for Ethereum cryptocurrency purchases. The signal was formed due to the intersection of signal lines at the level of 160.00. The nearest resistance area is at the level of 180.05. The area of support for ETH/USD is located at the level of 155.50.
The cancellation of the Ethereum cryptocurrency growth option will be a breakdown of the lower boundary of the Ichimoku Kinko Hyo Cloud and a close below the 155.05 area. Such a scenario would indicate a change in the lateral trend in favor of the downward trend and the continuation of the fall of the cryptocurrency. ETH/USD is expected to accelerate the growth of quotes with the breakdown of the upper limit of the Triangle model and closing above the level of 179.75.
Ethereum Forecast and Analysis ETH/USD April 22, 2019 imply an attempt to develop a cryptocurrency correction and a test level of 163.45. Where can we expect to continue the growth of Ethereum with a potential target near the level of 192.55. Cancellation of the lifting option will be the fall and the breakdown of the area of 155.05. This will indicate a continued decline in the rate of digital currency with a potential target below the level of 150.65.