Cryptocurrency Ethereum (ETH/USD) is trading at 1035.45. 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 1095.80 is expected, from which one should expect an attempt to continue the fall and further development of the downward trend with the target near the level of 920.50.
Ethereum (ETH/USD) forecast and analysis on January 22, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands indicator strip at 1115.10. The abolition of the continuation of the fall of the ETH/USD pair will be the breakdown of the upper boundary area of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of quotations of the pair above the 1200.50 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.
