Cryptocurrency Ethereum (ETH/USD) is trading at 291.74. 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 level 297.50 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 274.50.
Ethereum (ETH/USD) forecast and analysis on November 7, 2017
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands bands at 304.20. The abolition of the continuation of the fall of the ETH/USD pair will be the breakdown of the upper boundary of the Bollinger Bands indicator strips, as well as the moving average with a period of 55, and the closing of the pair quotes above 310.50, 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.