Cryptocurrency Ethereum (ETH/USD) is trading at 225.83. Cryptocurrency quotes are trading above the moving average with a period of 55, which indicates the presence of a bullish trend for Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator. A test of the level of 220.50 is expected, from which one can expect an attempt to continue the growth and further development of the upward trend with a target near the level of 240.50.
Ethereum (ETH/USD) forecast and analysis on October 7, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 215.00. Cancellation of the option of continuing growth of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator strip, as well as the moving average with a period of 55 and closing of quotations of the pair below the 200.00 area, which will indicate a change in trend in favor of a bearish ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bands, one should expect an acceleration of growth.