Cryptocurrency Ethereum (ETH/USD) is trading at 200. 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 upper border of the bands of the Bollinger Bands indicator.
Ethereum (ETH/USD) forecast and analysis on May 16, 2020
As part of the Ethereum forecast, a test of level 196 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 215. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at 182.
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 quotations of the pair below the area of 178. 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 May 16, 2020 implies a test level of 196. Further growth is expected to continue to the area above the level of 215. The conservative buying area is located near area 182. The breakdown of the cryptocurrency growth option will be the breakdown of the level of 178. In this case, we should expect further fall.
