Cryptocurrency Ethereum (ETH/USD) is trading at 582.00. 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 620.50 is expected, from which one should expect an attempt to continue falling and further development of a downward trend with a target near the level of 480.50.
Ethereum (ETH/USD) forecast and analysis on March 16, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands bars at 750.20. 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 770.50, 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.
