Cryptocurrency Ethereum (ETH/USD) is trading at 330.95. The average line of the indicator is located 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 325.60 is expected, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 345.50.
Ethereum (ETH/USD) forecast and analysis on November 16, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at the level of 297.70. 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 a period of 55 and the closing of the pair quotations below the area of 293.30, indicating 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.