• Ethereum rising inside impulse wave (v)
• Likely to rise to resistance level 2650.00
Ethereum crypto currency continues to rise inside the short-term upward impulse wave (v) which recently reversed up from the support area lying at the intersection of the pivotal support level 2130.00 (former resistance from the start of April), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from March. The upward reversal from this support area created the daily reversal patter Hammer.
Given the prevailing daily uptrend and the improvement in risk sentiment seen across the crypto currency markets today – Ethereum crypto currency can be expected to rise further in the active impulse waves (v) and 3 toward the next resistance level 2650.00 (top of the previous impulse wave (iii)).