Ethereum Technical Analysis 14 October, 2021

• Ethereum broke resistance zone
• Likely to rise to resistance level 4000.00

Ethereum cryptocurrency recently broke through the combined resistance zone lying between the key resistance level 3600.00 (which stopped the previous waves (b) and (a)) and the 61.8% Fibonacci correction of the previous sharp downward ABC correction 2 from the start of September. The breakout of this resistance zone accelerated the active impulse waves (i) and 3.

Given the improvement in risk sentiment as seen across he cryptocurrency markets today, Ethereum cryptocurrency can be expected to rise further toward the next round resistance level 4000.00 (previous monthly high from September and the target for the completion of the active impulse wave (i)).

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