Ethereum Technical Analysis Report 29 April, 2021

• Ethereum broke resistance area
• Likely to rise to resistance level 30000.00

Ethereum cryptocurrency continues to rise after the earlier breakout of the resistance area lying between the key resistance level 2650.00 (top of the previous Shooting Star candlesticks reversal pattern from the middle of April) and the resistance trendline of the wide daily up channel from the end of February. The breakout of this resistance area accelerated the active short-term upward impulse wave (iii).

Given the strong daily uptrend and the improvement in risks sentiment seen across the global cryptocurrency markets – Ethereum cryptocurrency can be expected to rise further toward the next round resistance level 30000.00 (target price for the completion of the active minor impulse wave 3).


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