Cryptocurrency Ethereum (ETH/USD) is trading at 175.16. Cryptocurrency quotes are traded below the moving average with a period of 55, which indicates the presence of a bearish trend for Ethereum. At the moment, the cryptocurrency quotes are near the bottom border of the Bollinger Bands indicator. A test of the level of 180.00 is expected, from which one can expect an attempt to continue to fall and further develop the downward trend with a target near the level of 160.00
Ethereum (ETH/USD) forecast and analysis on November 16, 2018
The conservative sales area for Ethereum is located near the middle border of the Bollinger Bands indicator at 200.00. Cancellation of the option to continue falling Ethereum will be the breakdown of the area of the middle 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 205.00, which indicates a change in trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
