Cryptocurrency Ethereum (ETH/USD) is trading at 1970. 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 bars.
Ethereum (ETH/USD) forecast and analysis on July 16, 2021
As part of the Ethereum rate forecast, a test of the level of 2020 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 1760. The conservative sales area for Ethereum is located near the upper border of the Bollinger Bands indicator strip at 2170.
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 area of 2180. 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 July 16, 2021 implies a test level of 2020. Further, it is expected to continue falling to the area below the level of 1760. The conservative sales area is located near the area of 2170. Cancellation of the cryptocurrency fall option will be the breakdown of the level of 2180. In this case, we should expect continued growth.