Cryptocurrency Ethereum (ETH/USD) is trading at 930.03. 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 level 990.20 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 1060.50.
Ethereum (ETH/USD) forecast and analysis on February 16, 2018
The conservative buying area for Ethereum is located near the middle border of the Bollinger Bands indicator bars at 850.20. The abolition of the continuation of Ethereum growth will be the breakdown of the mid-range area 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 800.20, which indicates a change in the trend in favor of the bearish 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.