• Ethereum reversed from support area
• Likely to rise to resistance level 2150
Ethereum cryptocurrency recently reversed up from the support area lying between the support level 1973.00 (former resistance from February, which stopped the previous intermediate impulse wave (3)), support level 1886.00 (previous top of wave 1 from last month, acting as support after it was broken), the upper daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse (i) from the end of March. The upward reversal from this area started the active impulse wave (iii).
Given the clear daily uptrend – Ethereum cryptocurrency can be expected to rise further toward the next resistance level 2150 (top of the previous impulse wave (i)) – followed by the resistance level 2200.00.