Cryptocurrency Ethereum (ETH/USD) is trading at 83. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bands.
Ethereum (ETH/USD) forecast and analysis on December 16, 2018
As part of the Ethereum course forecast, a test of level 88 is expected. Where should we expect an attempt to continue the decline of ETH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 74. The conservative area for sales of Ethereum is located near the upper border of the Bollinger Bands indicator at level 91.
Cancellation of the option to continue the decline in the rate of Ethereum will be the breakdown of the area of the upper border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of the quotations of the pair above the area of 96. This will indicate a change in the current trend in favor of the bullish ETH/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall of the cryptocurrency.
Ethereum ETH/USD forecast for December 16, 2018 suggests a test level of 88. Further, the fall to below 74 is expected. The conservative area for selling Ethereum is located area of 91. Canceling the option of falling cryptocurrency will break the level of 96. In this case, we can expect continuation growth.