Ethereum Technical Analysis Report 17 March, 2021

• Ethereum reversed from support area
• Likely to test resistance level 1875.00

Ethereum cryptocurrency recently reversed up once again from the support area located between the support level 1715.00 (which has been steadily reversing this coin in the last few trading sessions) and the 38.2% Fibonacci correction of the previous upward price impulse from the end of February. The upward reversal from this support area continues active short-term impulse wave 5 from last month.

Given the strong daily uptrend and the proximity of the aforementioned support level 1715.00 – Ethereum cryptocurrency can be expected to rise further toward the next resistance level 1875.00 (top of the previous impulses waves (1) and (i)).

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