Cryptocurrency Ethereum (ETH/USD) is trading at 118. 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 middle border of the Bollinger Bands indicator.
Ethereum (ETH/USD) forecast and analysis on January 24, 2019
As part of the Ethereum forecast, a test of level 123 is expected. Where should we expect an attempt to continue the fall of ETH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 105. The conservative area for Ethereum sales is located near the upper border of the Bollinger Bands indicator at the level of 125.
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 quotations of the pair above the area of 132. This will indicate a change in the current trend in favor of the bullish for 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 and analysis on January 24, 2019 implies a test level of 123. Further, it is expected to continue falling to the area below the level of 105. The conservative area for selling Ethereum is located area of 125. Canceling the option of falling cryptocurrency will be a breakdown of the level of 132. In this case, we can expect continuation growth.