Cryptocurrency Ethereum (ETH/USD) is trading at 1052.67. 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 level 1100.20 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 880.50.
Ethereum (ETH/USD) forecast and analysis on February 1, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands indicator strip at 1250.10. 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 1320.50, 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.