Cryptocurrency Ethereum (ETH/USD) is trading at 2985. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bars.
Ethereum (ETH/USD) forecast and analysis on August 20, 2021
As part of the Ethereum forecast, a test of the level of 3110 is expected. Where can we expect an attempt to continue the fall in ETH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2720. The conservative sales area for Ethereum is located near the upper border of the Bollinger Bands indicator strip at 3350.
Cancellation of the option to continue the decline in the Ethereum rate will be a breakdown of the upper border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 3380 area. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In the event of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on August 20, 2021 implies a test level of 3110. Further, it is expected to continue falling to the area below the level of 2720. The conservative sales area is near the area of 3350. Cancellation of the cryptocurrency fall option will be the breakdown of the level of 3380. In this case, we should expect continued growth.