Cryptocurrency Ethereum (ETH/USD) is trading at 299.78. 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 cryptocurrency quotes test the average border of the Bollinger Bands indicator bars. A test of level 295.50 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target near the level of 325.50.
Ethereum (ETH/USD) forecast and analysis on October 16, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 293.20. 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 quotes below the area of 285.50, 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.