Ethereum (ETH/USD) forecast and analysis on August 7, 2020

Cryptocurrency Ethereum (ETH/USD) is trading at 396. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, the cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator bands.

Ethereum (ETH/USD) forecast and analysis on August 7, 2020

As part of the Ethereum forecast, a test of the level of 378 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 446. The conservative buying area for Ethereum is located near the lower border of the Bollinger Bands indicator bars at 376.

Ethereum (ETH/USD) forecast and analysis on August 7, 2020

Cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the area of ​​the lower 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 below the 355 area. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on August 7, 2020 implies a test level of 378. Further, growth is expected to continue to the area above the level of 446. The conservative buy area is located near the area of ​​376. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 355. In this case, we should expect a continuation falling.


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