Cryptocurrency Ethereum (ETH/USD) is trading at 201.55. 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, cryptocurrency quotes are testing the lower border of the Bollinger Bands indicator. The test is expected at the level of 208.00, from which one can expect an attempt to continue the fall and further develop the downward trend with a goal near the level of 180.20.
Ethereum (ETH/USD) forecast and analysis on October 12, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands strip at 235.00. Cancellation of the option to continue the fall of the ETH/USD pair will be a breakdown of the upper border area of the Bollinger Bands indicator, as well as the moving average with a period of 55 and closing of the pair quotes above the 240.00 area, indicating a change in trend in favor of the bullish for Ethereum. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.
