Cryptocurrency Ethereum (ETH/USD) is trading at 730. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the upper border of the Bollinger Bands indicator bands.
As part of the Ethereum rate forecast, a test of level 690 is expected. Where can we expect an attempt to continue the growth of ETH/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 790. The conservative buying area for Ethereum is located near the lower border of the Bollinger Bands indicator bars at 600.
Cancellation of the option to continue the growth of the Ethereum rate will be a breakdown of the area of the lower border of the Bollinger Bands indicator bars. As well as the moving average with a period of 55 and the closing of quotations of the pair below the 590 area. This will indicate a change in the current trend in favor of the bearish for ETH/USD. In the event of a breakdown of the upper border of the Bollinger Bands indicator bands, we should expect an acceleration in the fall of the cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on December 31, 2020 implies a test level of 690. Further, growth is expected to continue to the area above the level of 790. The conservative buy zone is located near the area of 600. The cancellation of the cryptocurrency growth option will be a breakdown of the level of 590. In this case, we should expect a continuation falling.