Ethereum cryptocurrency cab be expected to rise to the next resistance level 2600.00 (provided the price breaks above the resistance level 2470.00).
- Ethereum reversed from support area
- Likely to rise to resistance level 2470.00
Ethereum cryptocurrency recently reversed up from the support area between the support level 2200.00 (former resistance from the end of March, as can be seen from the daily Ethereum chart), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse i from the end of last month. The upward reversal from this support area continues the active minor impulse wave (iii) from the end of March. The price is currently approaching the key resistance level 2470.00 (which stopped the previous impulse wave i).
Given the strength of the active impulse waves (iii) and 3 and the predominantly bullish sentiment that can be seen across the crypto markets today, Ethereum cryptocurrency cab be expected to rise to the next resistance level 2600.00 (provided the price breaks above the resistance level 2470.00).
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