Cryptocurrency Ethereum (ETH/USD) is trading at 636.59. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Ethereum. At the moment, the quotes of the cryptocurrency are moving near the middle border of the Bollinger Bands indicator bars. A test of the level of 675.50 is expected, from which one should expect an attempt to continue the fall and further development of a downward trend with a target near the level of 520.50.
Ethereum (ETH/USD) forecast and analysis on December 24, 2017
The conservative sales area for Ethereum is located near the middle border of the Bollinger Bands strip at 720.50. The abolition of the continuation of the fall of the ETH/USD pair will be a breakdown of the mid-range area of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotations above the area of 770.50, indicating a change in the trend in favor of the bullish for Ethereum. In the event of a breakdown of the lower boundary of the indices of the Bollinger Bands, it is expected to accelerate the fall.