Ethereum ETH/USD is trading at 2300. Cryptocurrency quotes are trading below the level of the moving average with a period of 55. This indicates the presence of a bearish trend for Ethereum. At the moment, the cryptocurrency quotes are moving near the lower border of the bands of the Bollinger Bands indicator.
As part of the forecast of the Ethereum exchange rate, a test of the 2440 level is expected. Where to expect an attempt to continue the fall of ETH/USD and further development of the downward trend. The target of this movement is the area near the level of 1770. The conservative area for selling Ethereum is located near the upper border of the Bollinger Bands indicator bands at the level of 2670.
Ethereum ETH/USD forecast for today May 31, 2021
The cancellation of the option to continue the decline in the Ethereum rate will be a breakdown of the upper border of the Bollinger Bands indicator bands. As well as the moving average with a period of 55 and the closing of the pair's quotes above the 2820 area. This will indicate a change in the current trend in favor of a bullish one for ETH/USD. In the event of a breakdown of the lower limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.
Ethereum ETH/USD the forecast for today, May 31, 2021, suggests a test of the 2440 level. Further, it is expected to continue falling to the area below the level of 1770. The conservative sales area is located near the 2670 area. The cancellation of the fall of the cryptocurrency will be the breakdown of the level of 2820. In this case, we should expect continued growth.