Cryptocurrency Ethereum (ETH/USD) is trading at 454.45. 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 are moving near the lower border of the Bollinger Bands indicator bars. A level test 445.60 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 505.80.
Ethereum (ETH/USD) forecast and analysis on December 7, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at the level of 447.40. The abolition of the continuation of Ethereum growth 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 the closing of the pair quotes below the area of 430.80, 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.