Ethereum Technical Analysis Report 2 June, 2021

• Ethereum reversed from support area
• Likely to rise to resistance level 2920.00

Ethereum cryptocurrency recently reversed up from the support area lying between the support level 2250.0 (which has been reversing the price from the middle of April) and the lower daily Bollinger Band. The upward reversal from this support area stopped the previous short-term corrective wave (b) and started the active minor impulse wave (c).

Given the continuation of the daily uptrend, improvement in risk sentiment across the cryptocurrency markets seen today – Ethereum can be expected to rise further toward the next resistance level 2920.00 (which stopped the previous short-term upward correction (a) at the end of May) – followed by the round resistance level 3000.00.

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