Cryptocurrency Ethereum (ETH/USD) is trading at 208. 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 stripes.
Ethereum (ETH/USD) forecast and analysis on May 7, 2020
As part of the Ethereum forecast, a test of level 198 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 234. The conservative buying area Ethereum is located near the lower border of the Bollinger Bands indicator strip at 196.
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 190. 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 7, 2020 implies a test level of 198. Further growth is expected to continue to the area above level 234. The conservative buying area is located near area 196. The breakdown of the cryptocurrency growth option will be the breakdown of the level of 190. In this case, we should expect continued decline.
