Cryptocurrency Ethereum (ETH/USD) is trading at 192.27. 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 200.00 is expected, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 178.50.
Ethereum (ETH/USD) forecast and analysis on October 16, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands strip at 205.00. 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 closure of the pair above 210.00, indicating a change in trend in favor of the bullish Ethereum. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, one should expect an acceleration of the fall.