Cryptocurrency Ethereum (ETH/USD) is trading at 819.45. 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 are moving near the upper border of the Bollinger Bands indicator bars. A test of level 780.20 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 920.50.
Ethereum (ETH/USD) forecast and analysis on May 7, 2018
The conservative buying area for Ethereum is near the lower border of the Bollinger Bands indicator strip at 710.50. 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 650.20, 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.