Cryptocurrency Ethereum (ETH/USD) is trading at 724.08. 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 level 710.20 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 790.20.
Ethereum (ETH/USD) forecast and analysis on May 16, 2018
The conservative buying area for Ethereum is near the lower border of the Bollinger Bands indicator strip at 650.00. The abolition of the continuation of Ethereum growth will be the breakdown of the lower border of the Bollinger Bands indicator strip, as well as the moving average with the period of 55 and the closing of the pair quotes below the area of 650.00, which indicates a change in the trend in favor of the bearish 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.
