Cryptocurrency Ethereum (ETH/USD) is trading at 232. 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 middle border of the Bollinger Bands indicator stripes.
Ethereum (ETH/USD) forecast and analysis on February 29, 2020
As part of the Ethereum exchange rate forecast, a test of level 240 is expected. Where can we expect an attempt to continue the fall of ETH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 203. The conservative area for sales of Ethereum is located near the upper border of the Bollinger Bands indicator strip at 265.
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 stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 270. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on February 29, 2020 implies a test level of 240. Further, it is expected to continue falling to the area below the level of 203. The conservative sales area is located near the area of 265. The breakdown of the cryptocurrency fall option will be the breakdown of the level of 270. In this case, we should expect further growth.