Ethereum (ETH/USD) forecast and analysis on May 20, 2021

Cryptocurrency Ethereum (ETH/USD) is trading at 3098. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates the presence of a bearish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the lower border of the Bollinger Bands indicator bars.

Ethereum (ETH/USD) forecast and analysis on May 20, 2021

As part of the Ethereum forecast, a test of the level of 3420 is expected. Where can we expect an attempt to continue the fall in ETH/USD and the further development of the downward trend. The purpose of this movement is the area near the level of 2780. The conservative sales area for Ethereum is located near the upper border of the Bollinger Bands indicator strip at 3820.

Ethereum (ETH/USD) forecast and analysis on May 20, 2021

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 bars. As well as the moving average with a period of 55 and the closing of quotations of the pair above the 4000 area. This will indicate a change in the current trend in favor of the bullish for ETH/USD. In case of a breakdown of the lower border of the Bollinger Bands indicator bands, we should expect an acceleration of the fall of the cryptocurrency.

Ethereum (ETH/USD) forecast and analysis on May 20, 2021 implies a test level of 3420. Further, the fall is expected to continue to the area below the level of 2780. The conservative sales area is near the 3820 area. Cancellation of the cryptocurrency fall option will be a breakdown of the level of 4000. In this case, it is worth expect continued growth.

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