Cryptocurrency Ethereum (ETH/USD) is trading at 297.58. 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, quotes of the pair test the average border of the bands of the indicator Bollinger Bands. An insignificant correction is expected near the level of 289.50, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 330.50.
Ethereum (ETH/USD) forecast and analysis on October 4, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at 292.40. 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 282.50, 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.