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.