Ethereum Classic forecast and analysis on October 16, 2018

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Ethereum Classic forecast and analysis on October 16, 2018

Cryptocurrency Ethereum ETC Classic/USD is trading at 9.47 and continues movement in the correction. Cryptocurrency trading below the lower border of the Ichimoku Kinko Hyo Cloud, indicating a downward trend. Under the forecast of the course of the Ethereum classic on October 16, 2018, is expected to test region signal lines Ichimoku Kinko Hyo 9.65 near the area where we can expect attempt to rebound and continue to reduce the cryptocurrency with the aim to near the level of 8.50.

Ethereum Classic forecast and analysis on October 16, 2018

Additional signal in favor of fall cryptocurrencies ETC/USD will perform the test of resistance and rebounded from the upper border of the descending channel. Earlier it was obtained a strong signal for sales of the Ethereum cryptocurrency Classic, due to the intersection of the signal lines at the level of 10.80.

The cancellation of the option declines Ethereum Classic is the strong rise and break of the upper border of the Ichimoku Kinko Hyo Cloud with a close above 10.20, which will point to a change in the downward trend in favor of a rising trend and continued growth of the cryptocurrency. To expect acceleration of falling of quotations ETC/USD is a breakout of the support area and closing below the 9.00 level.

Thus, Ethereum Classic forecast and analysis on October 16, 2018 involves the attempt to develop correction cryptocurrency and test at 9.65 where is expected to continue the depreciation of the Ethereum Classic with a potential target near the level of 8.50, lifting the drop option will deliver strong growth and the breakdown region 10.20, which indicates a continued growth rate of digital currency.

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