Ethereum ETH/USD ends the trading week near area 201. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Ethereum. The test of the Ichimoku Kinko Hyo signal lines is expected near the level of 220, from where we can expect an attempt to rebound and the continuation of the fall of cryptocurrency with a target at the level of 125.
Ethereum weekly forecast October 29 — November 2, 2018
An additional signal in favor of the fall of cryptocurrency will be the test of the resistance level, as well as the test of the upper boundary of the «Triangle» model. Earlier, a weak signal was received for SELL the Ethereum cryptocurrency, due to the crossing of signal lines at the level of 225.
The cancellation of the Ethereum fall option will be the breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the 245 area, which will indicate a change in the downward trend in favor of an upward trend. Expect to accelerate the fall in quotes ETH/USD stands with the breakdown of the lower boundary of the model «Triangle» and closing below 180.
Ethereum weekly forecast October 29 — November 2, 2018 suggests an attempt to develop a correction to the level of 220, from which it is necessary to expect a rebound and continue falling of the cryptocurrency with a potential target near the level of 125.