Ethereum ETH/USD is trading at 3799. Cryptocurrency quotes are trading above the level of the moving average with a period of 55. This indicates the presence of a bullish trend for Ethereum. At the moment, the cryptocurrency quotes are moving near the upper limit of the Bollinger Bands indicator bands.
Ethereum forecast for the week of May 17-23, 2021
As part of the forecast of the Ethereum exchange rate, a test of the level of 3280 is expected. Where to expect an attempt to continue the growth of ETH/USD and further development of the upward trend. The target of this movement is the area near the level of 4670. The conservative area for Ethereum purchases is located near the lower border of the Bollinger Bands indicator bands at the level of 2140.
Ethereum signal for the week of May 17-23, 2021
The cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the lower border of the Bollinger Bands indicator bands. As well as a moving average with a period of 55 and the closing of the pair's quotes below the 2100 area. This will indicate a change in the current trend in favor of a bearish one for ETH/USD. In the event of a breakdown of the upper limit of the bands of the Bollinger Bands indicator, we should expect an acceleration in the fall of the cryptocurrency.
The Ethereum forecast for the week of May 17-23, 2021 suggests a test of the level of 3280. Further growth is expected to continue in the area above the level of 4670. The conservative buy zone is located near the 2140 area. The cancellation of the growth option of the cryptocurrency will be the breakdown of the level of 2100. In this case, we should expect the fall to continue.