• Ethereum reversed from support zone
• Likely to test resistance level 4500.00
Ethereum cryptocurrency recently reversed up from the support zone located between the round support level 4000.00 (which has been reversing Ethereum from October), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous sharp upward impulse from the middle of September. The upward reversal from this support zone stopped the earlier short-term impulse wave C.
Given the strong daily uptrend and the strength of the nearby support level 4000.00, Ethereum cryptocurrency can be expected to rise further toward the next pivotal resistance level 4500.00.