Currency pair ETH/USD is trading at the level of 194.58. Quotes of the pair are traded below the moving average with a period of 55, indicating a bearish trend along the Ethereum/Dollar. At the moment, quotes of the pair test the average border of the indicator Bollinger Bands. An insignificant correction is expected near the level of 200.50, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near level 152.13.
Ethereum (ETH/USD) forecast and analysis on August 1, 2017
The conservative sales area is located near the upper boundary of the Bollinger Bands indicator bands at 205.10. The abolition of the continuation of the fall of the Ethereum/Dollar pair will be a breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as a moving average with a period of 55 and the closing of quotations of the pair above the area of 220.50, indicating a change in the trend in favor of the bullish by ETH/USD. In the event of a breakdown of the lower boundary of the bands of the Bollinger Bands indicator, it is expected to accelerate the fall.