Ethereum Technical Analysis 23 November, 2021

• Ethereum reversed from support zone
• Likely to rise to resistance level 80.00

Ethereum cryptocurrency recently reversed up from the support area located between the round support level 4000.00 (which has been revering the price from October), lower daily Bollinger band and the 38.2% Fibonacci correction of the upward impulse wave 1 from the end of September . The upward reversal from this support zone stopped the previous minor corrective wave (ii).

Given the clear daily uptrend and the improvement in the risk sentiment that can be seen across most of the cryptocurrencies today, Ethereum can be expected to rise further toward the next resistance level 4750.00 (which stopped the previous impulse wave 3 at the start of this month).

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