Cryptocurrency Ethereum (ETH/USD) is trading at 622.15. 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 test the upper boundary of the bands of the indicator Bollinger Bands. A test of the level of 592.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the target near the level of 705.50.
Ethereum (ETH/USD) forecast and analysis on December 14, 2017
The conservative area for buying is near the middle border of the Bollinger Bands indicator strip at the level of 505.10. The abolition of the continuation of Ethereum growth will be the breakdown of the mid-range of the Bollinger Bands indicator bars, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 455.50, indicating a change in the bearish trend 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.
