By Ethereum cryptocurrency can be expected to rise further to the next resistance level 2400.00 – previous monthly high from April and May.
Ethereum broke resistance zone
Likely to rise to resistance level 2400.00
Ethereum cryptocurrency recently broke the resistance zone lying at the intersection of the round resistance level 2000.00 (which stopped wave A at the end of July, as can be seen from the daily Ethereum chart below) and the 50% Fibonacci correction of the previous sharp downward impulse wave from the start of May. The breakout of this resistance area accelerated the active short-term impulse wave C – which then broke the daily up channel from the end of June.
Given the strength of the active impulse wave C and the strongly bullish sentiment that can be seen across the crypto markets today, Ethereum cryptocurrency can be expected to rise further to the next resistance level 2400.00 – previous monthly high from April and May.
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