Cryptocurrency Ethereum (ETH/USD) is trading at 672.38. Quotes of the cryptocurrency are traded below the moving average with a period of 55, indicating a bearish trend for Ethereum. Currently, the cryptocurrency quotes are testing the lower boundary of the Bollinger Bands indicator bars. A test of the level of 698.40 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 560.50.
Ethereum (ETH/USD) forecast and analysis on December 29, 2017
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands indicator strip at 730.50. The abolition of the continuation of the fall of the ETH/USD pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55, and the closing of the pair quotes above the area of 795.50, 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 bands of the Bollinger Bands indicator, it is expected to accelerate the fall.
