Cryptocurrency Ethereum (ETH/USD) is trading at 211. 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 stripes.
Ethereum (ETH/USD) weekly forecast on August 12 — 18, 2019
As part of the Ethereum forecast, a test of level 230 is expected. Where can we expect an attempt to continue the fall of ETH / USD and the further development of the downward trend. The purpose of this movement is the area near the level of 160. The conservative area for sales of Ethereum is located near the upper border of the Bollinger Bands indicator strip at the level of 240.
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 stripes. As well as a moving average with a period of 55 and closing of quotations of the pair above the area of 260. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of cryptocurrency.
Ethereum (ETH/USD) weekly forecast on August 12 — 18, 2019 implies a test of the level of 230. Further, it is expected to continue falling to the area below the level of 160. The conservative area for selling Ethereum is located area of 240. Canceling the option of falling cryptocurrency will be a breakdown of the level of 260. In this case, we can expect continuation growth.