Cryptocurrency Ethereum (ETH/USD) is trading at 307.28. Quotes of the cryptocurrency are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for Ethereum. At the moment, the quotes of the cryptocurrency are moving near the upper border of the Bollinger Bands indicator bars. A test of level 300.20 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target close to level 320.50.
Ethereum (ETH/USD) forecast and analysis on November 1, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 288.30. The abolition of the continuation of Ethereum growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with the period of 55 and the closing of the quotes of the pair below the area of 280.50, which indicates a change in the trend in favor of the bearish for ETH/USD. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.