Ethereum Technical Analysis Report 18 February, 2021

• Ethereum broke the resistance level 1850,00
• Likely to round resistance level 2000,00

Ethereum recently broke through the key resistance level 1850,00 (which stopped the previous minor impulse wave (iii) in the middle of February – as can be seen from the daily Ethereum chart below). The breakout of this resistance level accelerated the active minor impulse wave (v) which is a part of the upward impulse sequence 3 from last September – which also belongs to the higher order sharp upward impulse wave (3) from last year.

Given the strength of the active uptrend – similar to the one affecting the other major crypto currencies – Ethereum is likely to rise further toward the next round resistance level 2000,00 – the breakout of which will likely lead to further strengthening of the bullish pressure on Ethereum.

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