06.05.202215:37 Forex Analysis & Reviews: Ichimoku cloud indicator analysis on Ethereum.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Ethereum is trading around $2,660 making new lower lows for April. Price is trading below the Ichimoku cloud (Kumo) and this confirms that we are in a bearish trend. Price has tested the cloud resistance over the last two sessions but got rejected.

Price is also below both the tenkan-sen (red line indicator) and the kijun-sen (yellow line indicator). The Chikou span (black line indicator) is about to break below the cloud support, while it continues staying below the candlestick pattern. All signs confirm bears are in control of the trend and price remains vulnerable to more downside. Bulls will need to recapture $2,950 in order to hope for a reversal in trend.

Alexandros Yfantis
Analytical expert of InstaForex
© 2007-2025

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Earn on cryptocurrency rate changes with InstaForex

Download MetaTrader 4 and open your first trade