• Ethereum broke resistance zone
• Likely to rise to resistance level 4875.00
Ethereum cryptocurrency recently broke through resistance zone lying between the key resistance level 4544.00 (which reversed the price earlier this month) and 61.8% Fibonacci correction of the downward wave (ii) from the start of November. The breakout of this resistance zone accelerated the active short-term impulse wave (iii) – which belongs to the higher order upward impulse waves 3 and (3) from September and June respectively.
Given the strength of the active daily uptrend, improved risk sentiment see across the cryptocurrency markets today, Ethereum cryptocurrency can be expected to rise further toward the resistance level 4875.00 (previous all time high).