Ethereum Technical Analysis 30 December, 2021

• Ethereum reversed from support zone
• Likely to rise to resistance level 4100.00

Ethereum cryptocurrency today reversed up with the daily Japanese candlesticks reversal pattern Hammer from the support zone lying between the multi-month support level 3659.00(which has been reversing the price from the start of October) intersecting with the lower daily Bollinger Band and the 50% Fibonacci correction of the sharp upward impulse wave (C) from the end of September. The upward reversal from this support zone stopped the previous minor impulse wave 3.

Given the strong multi-month uptrend, Ethereum cryptocurrency can be expected to rise further toward the next resistance level 4100.00 (which stopped multiple waves from the start of this month 0 (b), (a), 2 and (b))

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