Cryptocurrency Ethereum (ETH/USD) is trading at 1032.55. 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 Bollinger Bands indicator. A test of the level of 973.30 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 1190.50.
Ethereum (ETH/USD) forecast and analysis on January 8, 2018
The conservative buying area is located near the lower border of the Bollinger Bands indicator strip at 878.30. 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 780.50, 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.