Cryptocurrency Ethereum (ETH/USD) is trading at 305.04. 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 level 300.20 is expected, from which one should expect an attempt to continue growth and further development of an upward trend with a target close to level 320.50.
Ethereum (ETH/USD) forecast and analysis on October 31, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator bars at 287.40. 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 a period of 55 and the closing of the pair quotes below the area of 283.20, 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.