Ethereum cryptocurrency be expected to rise to the next resistance level 2400.00, which has been reversing the price from April.
- Ethereum reversed from support zone
- Likely to rise to resistance level 2400.00
Ethereum cryptocurrency previously reversed up from the support zone between the key support level 2225.00 (former low of impulse wave I from the end of April, as can be seen from the dilly Ethereum chart below), support trendline from February, lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from the end of March. The upward reversal from this support zone is lily to form the daily Japanese candlesticks reversal pattern Morning Star if the price closes today near the current levels – strong buy signal for Ethereum.
Given the multi-month uptrend and the strongly bullish sentiment seen across the crypto markets today, Ethereum cryptocurrency be expected to rise to the next resistance level 2400.00, which has been reversing the price from April.