Cryptocurrency Ethereum (ETH/USD) is trading at 308.79. Quotations of the pair are traded above the moving average with a period of 55, which indicates the existence of a bullish trend for the Ethereum/Dollar. At the moment, quotes of the pair test the upper boundary of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 284.40, where again we should expect an attempt to continue growth and further development of the upward trend in the pair of Ethereum/Dollar near the level of 360.90.
Ethereum (ETH/USD) forecast and analysis on August 10, 2017
The conservative area for Ethereum/Dollar pair buying is near the lower boundary of the Bollinger Bands indicator strip at the level of 239.80. The abolition of the continuation of the growth of the ETH/USD pair will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a level of 55 and the closing of the pair’s quotes below the area of 213.50, indicating a change in the bearish trend for the Ethereum/Dollar. In the event of breakdown of the upper boundary of the bands of the indicator Bollinger Bands, one should expect an acceleration of growth.