Cryptocurrency Ethereum (ETH/USD) is trading at 240. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator strip.
Ethereum (ETH/USD) forecast and analysis on July 16, 2020
As part of the Ethereum forecast, a test of level 236 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of an upward trend. The purpose of this movement is the area near the level of 248. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at 235.
Cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the lower 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 below the area of 223. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In case of breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on July 16, 2020 implies a test level of 236. Further growth is expected to continue to the area above level 248. The conservative buying area is located near area 235. The breakdown of the cryptocurrency growth option will be the breakdown of level 223. In this case, we should expect further fall.