Cryptocurrency Ethereum (ETH/USD) is trading at 951.53. 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 905.50 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with the aim near the level of 1120.30.
Ethereum (ETH/USD) forecast and analysis on January 7, 2018
The conservative buying area is near the lower border of the Bollinger Bands indicator bars at 820.80. The abolition of the continuation of Ethereum growth will be the breakdown of the lower border of the Bollinger Bands indicator strips, as well as the moving average with a period of 55 and the closing of the pair quotes below the area of 730.60, 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.
