Ethereum Classic ETC/USD is trading at 9.54 and continues to move as part of the correction. Cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, which indicates the presence of a downward trend. As part of the Ethereum Classic forecast & analysis October 29, 2018, the Ichimoku Kinko Hyo Cloud lower bound is expected to test near the area of 9.60, from where it is necessary to expect an attempt to rebound and continue to fall in cryptocurrency with a target near the level of 8.90.
Ethereum Classic forecast & analysis October 29, 2018
An additional signal in favor of the fall in the cryptocurrency ETC/USD will be the test of the resistance area, as well as a rebound from the lower boundary of the ascending channel. Previously, a weak signal was received for SELL the Ethereum Classic cryptocurrency, due to the crossing of signal lines at the level of 9.70.
The cancellation of the fall in Ethereum Classic quotes will be a strong growth and a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with a close above 9.90, indicating a change in the downward trend in favor of the upward trend and the continued growth of cryptocurrency. Expect to accelerate the fall in quotes ETC/USD stands with the breakdown of the support area and closing below 9.35.
Ethereum Classic forecast & analysis October 29, 2018 suggests an attempt to develop cryptocurrency correction and test level 9.60, from which we can expect the continuation of the fall of the course Ethereum Classic with a potential target near the level of 8.90, a strong growth will cancel the reduction option and a breakdown of the area of 9.90 will indicate on the continued growth of the digital currency.