Cryptocurrency Ethereum (ETH/USD) is trading at 1438. 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 March 2, 2021
As part of the Ethereum forecast, a test of the level of 1570 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 1190. The conservative sales area for Ethereum is located near the upper border of the Bollinger Bands indicator strip at 1575.
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 1670. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bars, we should expect an acceleration of the fall of the cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on March 2, 2021 implies a test level of 1570. Further, the continuation of the fall to the area below the level of 1190 is expected. The conservative sales area is located near the area of 1575. The cancellation of the option of falling cryptocurrency will be a breakdown of the level of 1670. In this case, we should expect a continuation growth.