Cryptocurrency Ethereum (ETH/USD) is trading at 898.32. 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 upper border of the Bollinger Bands indicator bars. A test of the level of 850.30 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 1030.50.
Ethereum (ETH/USD) forecast and analysis on January 5, 2018
The conservative buying area is located near the middle border of the Bollinger Bands indicator strip at 795.30. The abolition of the continuation of Ethereum growth will be the breakdown of the mid-range 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 680.60, 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.