• Ethereum broke resistance level 2500.00
• Likely to rise to resistance level 3000.00
Ethereum cryptocurrency continues to rise inside the minor impulse wave (iii) which previously broke the resistance level 2500.00 (which stopped the previous minor impulse wave (i) in the middle of April). The active impulse wave (iii) started earlier from the combined support area lying at the intersection of the support level 2110.00 (former resistance from the start of April), 20-day moving average and the 50% Fibonacci correction of the upward impulse from March.
Given the strong daily uptrend – Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3000.00 (target price for the completion of the active impulse wave (iii)). Strong support now stands at the support level 2500.00.