Cryptocurrency Ethereum (ETH/USD) is trading at 947.27. 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 cryptocurrency quotes test the average border of the Bollinger Bands indie bands. A test of the level of 1070.80 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 840.80.
Ethereum (ETH/USD) forecast and analysis on January 20, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands indicator bands at 1154.20. 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 1240.50, 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.
