ETHUSD the most positive forecast within the last month

Our previous extended analysis was based on IHS formation which was broken at past price movement levels. However there is one more chance for Ethereum to complete this pattern.

Indicators are mostly in neutral or bearish state, however it is due to recent growth and entering Ichimoku clouds zone. Hence the growth should continue till the upper edge of green ichi cloud around $690. Situation is very important and crucial as the long term significant Fib resistance level is around $640. Based on the fundamental and technical chart analysis the price has great chances to overcome the resistance. Thus, it becomes possible to consolidate between upper edge of Ichimoku and Fib 0.786 to finish the mentioned pattern.

In case of success ETH will start a new wave of long term growth. However the probability s affected by the whole market capitalization of crypto market which has significantly dropped. It also correlates with BTC price movement. However, the crypto market is in fall state for about a month and there are a lot of sign of reverse.

It is time to buy cheap and strong alts and ETH is one of the top coins you should buy, just wait a bit till it cross resistance level to be sure in the forecast.

Trade active:

Indicators become bullish, ETH should consolidate over resistance level around $640 and continue its growth

Trade closed manually:

The pattern was finally broken and this strategy is closed