Cryptocurrency Ethereum (ETH/USD) is trading at 665.43. 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 690.40 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 570.50.
Ethereum (ETH/USD) forecast and analysis on January 1, 2018
The conservative area for sales of Ethereum is located near the upper boundary of the bands of the Bollinger Bands indicator at 710.80. The abolition of the continuation of the fall of the ETH/USD pair will be the breakdown of the upper range of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations above the area of 760.50, 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.