Cryptocurrency Ethereum (ETH/USD) is trading at 306.56. 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 315.50 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 285.50.
Ethereum (ETH/USD) forecast and analysis on October 23, 2017
The conservative sales area for Ethereum is located near the upper boundary of the Bollinger Bands strip at 330.30. 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 quotations of the pair above the area of 335.50, 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.