Cryptocurrency Ethereum (ETH/USD) is trading at 303.65. 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 upper boundary of the bars of the indicator Bollinger Bands. An insignificant correction is expected near the level of 290.50, from which one should expect an attempt to continue growth and further development of the upward trend with a target near the level of 340.50.
Ethereum (ETH/USD) forecast and analysis on September 29, 2017
The conservative area for buying is near the lower boundary of the Bollinger Bands indicator bars at 280.30. 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 260.50, which indicates a change in the trend in favor of 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.