Currency pair ETH/USD is trading at 220.20. 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 205.50, where again we should expect an attempt to continue growth and further development of the upward trend for the pair Ethereum/Dollar near the level of 270.33.
Ethereum (ETH/USD) forecast and analysis on August 2, 2017
The conservative area for Ethereum/Dollar pair buying is near the lower boundary of the bands of the indicator Bollinger Bands at the level of 178.95. The abolition of the continuation of the growth of the ETH/USD pair will be a breakdown of the lower border of the Bollinger Bands indicator strip, as well as a moving average with a level of 55 and the closing of the pair’s quotes below the area of 158.50, 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.