Cryptocurrency Ethereum (ETH/USD) is trading at 420.70. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Ethereum. At the moment, the quotes of the cryptocurrency are moving near the lower border of the bands of the Bollinger Bands indicator. A test of the level of 438.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 380.00.
Ethereum (ETH/USD) forecast and analysis on August 3, 2018
The conservative sales area for Ethereum is near the upper boundary of the Bollinger Bands indicator bars at 475.00. The abolition of the continuation of the fall of the ETH/USD pair will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55, and the closing of the pair quotations above 490.00, which indicates a change in the trend in favor of the bullish for Ethereum. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
