Ethereum Technical Analysis Report 24 May, 2021

• Ethereum reversed from support area
• Likely to rise to 2500.00 and 3000.00

Ethereum cryptocurrency recently reversed up strongly from the support area lying between the round support 2000.00 (former monthly high from February, which has been reversing the price from the start of April), lower daily Bollinger Band and the upward sloping support trendline from February. The upward reversal from this support area continues the active impulse wave 3 – which started earlier from the same support zone earlier this month.

Given the improvement in risk sentiment as see across the cryptocurrency markets today – Ethereum cryptocurrency can be expected to rise further toward the next resistance level 2500.00 – followed by 3000.00 (which topped the two previous trade sessions).

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