Cryptocurrency Ethereum (ETH/USD) is trading at 339.75. 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 310.50 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 390.50.
Ethereum (ETH/USD) forecast on October 16 — October 20, 2017
The conservative area for buying is near the lower border of the Bollinger Bands indicator strip at the level of 275.70. 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 quotations below the area of 250.50, which will indicate 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.
