• Ethereum broke resistance level 1600.00
• Likely to rise to resistance level 1800.00
Ethereum recently reversed up once again from the key support area located between the key support level 1440.0 (former strong resistance from the end of January), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward price impulse from the end of December. The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Hammer.
Having recently broke with the upward gap the multi-day resistance level 1600.00 (which has been reversing Ethereum form the end of February, as can be seen from the daily Ethereum chart below) – Ethereum is likely to rise further toward the next resistance level 1800.00.