Cryptocurrency Ethereum (ETH/USD) is trading at 1189.40. 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 cryptocurrency quotes test the upper boundary of the Bollinger Bands indicator bars. A test of level 1050.20 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 1300.50.
Ethereum (ETH/USD) forecast and analysis on January 29, 2018
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 990.20. The abolition of the continuation of Ethereum growth will be the breakdown of the lower border of the Bollinger Bands indicator bands, as well as the moving average with a period of 55 and the closing of the pair quotations below the area of 920.40, 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.
