Ethereum Technical Analysis Report 6 May, 2021

• Ethereum broke resistance levels 3000.00 and 3500.00
• Likely to rise to resistance level 4000.00

Ethereum cryptocurrency continues to rises strongly after the price broke above the key psychological resistance level 3000.00 (which was set as the upward target in pour earlier forecast for this instrument). The breakout of the resistance level 3000.00 accelerated the the active impulse waves (iii), 5 and (5) – which then broke the resistance level 3500.00.

Given the strong daily uptrend – Ethereum cryptocurrency can be expected to rise further toward the next round resistance level 4000.00 (target price for the active minor impulse wave (iii) – intersecting with the sharp daily up channel from April).

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