Cryptocurrency Ethereum (ETH/USD) is trading at 1071. 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 bars.
As part of the Ethereum rate forecast, a test of level 985 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 1230. The conservative buying area for Ethereum is located near the lower border of the Bollinger Bands indicator bars at 770.
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 closing of quotations of the pair below the area of 760. 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 January 7, 2021 implies a test level of 985. Further, growth is expected to continue to the area above the level of 1230. The conservative buy area is located near the area of 770. Cancellation of the cryptocurrency growth option will be a breakdown of the level of 760. In this case, we should expect a continuation falling.