Cryptocurrency Ethereum (ETH/USD) is trading at 223.80. 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, the pair’s quotes are moving near the middle border of the Bollinger Bands indicator bars. An insignificant correction is expected near the level of 211.60, 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 264.20.
Ethereum (ETH/USD) forecast and analysis on August 4, 2017
The conservative area for Ethereum/Dollar pair buying is near the lower boundary of the Bollinger Bands indicator strip at the level of 193.10. 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 strips, as well as the moving average with the level of 55 and the closing of the quotations of the pair below the area of 168.50, 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.