Cryptocurrency Ethereum (ETH/USD) is trading at 203.64. 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 middle border of the Bollinger Bands indicator bars. The test is expected at the level of 207.00, from which one can expect an attempt to continue the fall and further develop the downward trend with a target near the level of 188.00.
Ethereum (ETH/USD) forecast and analysis on October 17, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands strip at 207.20. 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 215.00, 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.