Cryptocurrency Ethereum (ETH/USD) is trading at 435.93. 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 middle border of the Bollinger Bands indicator bars. A test of the level 445.50 is expected, from which one should expect an attempt to continue the fall and further develop a downward trend with a target near the level of 398.50.
Ethereum (ETH/USD) forecast and analysis on July 16, 2018
The conservative area for Ethereum sales is located at the upper border of the Bollinger Bands indicator strip at 445.80. The abolition of the continuation of the fall of the ETH/USD pair will be the breakdown of the upper boundary of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotes above the 460.50 area, indicating 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.