Cryptocurrency Ethereum (ETH/USD) is trading at 720.15. 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 lower border of the bands of the Bollinger Bands indicator. A test of the level 740.50 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 640.00.
Ethereum (ETH/USD) forecast and analysis on May 10, 2018
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands bars at 800.20. The abolition of the continuation of the fall of the ETH/USD pair will be a breakdown of the upper range of the Bollinger Bands indicator bands, as well as a moving average with a period of 55 and the closing of the pair quotations above the area of 840.20, 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.
