• Ethereum reversed from support zone
• Likely to rise to resistance level 3600.00
Ethereum cryptocurrency recently reversed up from the support zone lying between the key support level 3113 (which has been reversing the price from the middle of August, low of the previous sharp downward correction 2) and the lower daily Bollinger Band. The upward reversal from this support zone continues the active upward impulse wave 3, which belongs to the sharp multi-month impulse wave (C) from the middle of June.
Given the strong uptrend that can be seen on the daily Ethereum charts and the improvement in risk sentient across the cryptocurrency markets – the price can be expected to rise further toward the next resistance level 3600.00. Strong support remains at the support level 3113.00.