Ethereum ETH/USD is trading at 125.58 and continues to move as part of the correction. ETH/USD cryptocurrency moves below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates the presence of a bearish trend by Ethereum. As part of the Ethereum Forecast and Analysis ETH/USD March 6, 2019. A test of the lower boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 130.55. Where should we expect a rebound and an attempt to continue the fall of ETH/USD with the goal below the level of 105.00.
Ethereum Forecast and Analysis ETH/USD March 6, 2019
An additional signal in favor of reducing cryptocurrency will be the test of the resistance area. Earlier, a strong signal was received for SELL the Ethereum cryptocurrency. The signal was formed due to the intersection of the signal lines at the level of 131.55. The nearest resistance area is at 140.00. The area of support for ETH/USD is at 128.00.
The cancellation of the Ethereum cryptocurrency fall option will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closure above the 145.60 area. Such a scenario would indicate a change in the bearish trend in favor of the upward trend and the continued growth of cryptocurrency. ETH/USD is expected to accelerate the fall in quotes with the breakdown of the support area and closing below 120.00.
Ethereum Forecast and Analysis ETH/USD March 6, 2019 imply an attempt to develop a cryptocurrency correction and a test level of 130.55. Where can we expect the continuation of the fall of Ethereum with a potential target near the level of 105.00. Cancellation option reduction will make a strong growth and the breakdown of the area 145.60. This will indicate a continued rise in the rate of digital currency with a potential target above the level of 155.00.