Cryptocurrency Ethereum (ETH/USD) is trading at 347.21. 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 indicator Bollinger Bands. A test of the level of 340.50 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 360.50.
Ethereum (ETH/USD) forecast and analysis on November 20, 2017
The conservative buying area is near the lower border of the Bollinger Bands indicator strip at 320.40. 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 the period of 55 and the closing of the pair quotes below the area of 315.50, 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.