Cryptocurrency Ethereum (ETH/USD) is trading at 895.00. 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 lower border of the bands of the Bollinger Bands indicator. A test of the level of 1020.50 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 700.00.
Ethereum (ETH/USD) forecast and analysis on February 4, 2018
The conservative sales area for Ethereum is located near the middle border of the Bollinger Bands indicator strip at 1020.50. The abolition of the continuation of the fall of the ETH/USD pair will be a breakdown of the mid-range of the Bollinger Bands indicator strip, as well as a moving average with a period of 55 and the closing of the pair quotes above the 1080.50 area, 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.