Ethereum Technical Analysis 11 January, 2021

• Ethereum reversed from support level 3000.00
• Likely to rise to resistance 3500.00

Ethereum cryptocurrency continues to rise after the earlier upward reversal from the key round support level 3000.00 (which has been redesign this cryptocurrency from the middle of last August as can be seen below), lower daily Bollinger Band and the support trendline of the daily down channel from the end of November. The upward reversal from the support level 3000.00 started the active corrective wave (iv).

Given the prevailing daily uptrend and the rising bullish sentiment that can be seen across the cryptocurrency markets today Ethereum cryptocurrency can be expected to rise further toward the next resistance 3500.00 (intersecting with the daily down channel from November).

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