Cryptocurrency Ethereum (ETH/USD) is trading at 1126.30. 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 average border of the Bollinger Bands indicator bars. A test of the level of 1090.20 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 1290.50.
Ethereum (ETH/USD) forecast and analysis on January 31, 2018
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 1030.20. 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 980.50, 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.