Ethereum cryptocurrency can be expected to rise to the next resistance level 2600.00 – which reversed the previous sharp upward impulse wave 3 at the start of September.
- Ethereum reversed from support zone
- Likely to rise to resistance level 2600.00
Ethereum cryptocurrency recently reversed up from the support zone between the support level 2400.00 (former Double Top from April and May, as can be seen from the daily Ethereum chart below), lower daily Bollinger Band, 38.2% Fibonacci correction of the upward impulse from August and the upper trendline of the recent broken up channel from June (acting as the support after it was broken in August). The upward reversal from this support zone stopped the previous minor correction 4.
Given the clear daily uptrend, Ethereum cryptocurrency can be expected to rise to the next resistance level 2600.00 – which reversed the previous sharp upward impulse wave 3 at the start of September.
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