Cryptocurrency Ethereum (ETH/USD) is trading at 738.05. 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 770.20 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 670.50.
Ethereum (ETH/USD) forecast and analysis on March 9, 2018
The conservative area for sales of Ethereum is located near the middle border of the Bollinger Bands indicator bars at 820.50. The abolition of the continuation of the fall of the ETH/USD pair will be the breakdown of the mid-range area of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes above the area of 860.20, 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.