- Ethereum reversed from the key support level 3400.00
- Likely to rise to resistance level 3800.00
The Ethereum cryptocurrency recently reversed from the support zone between the key support level of 3400.00 (formerly a resistance level from January) and the upper trendline of the recently broken up channel from May.
This support zone was further strengthened by the 38.2% Fibonacci correction of the previous sharp upward impulse from July.
Given the clear daily uptrend, Ethereum cryptocurrency can be expected to rise to the next resistance level 3800.00.
- Likely to rise to resistance level 3800.00
The Ethereum cryptocurrency recently reversed from the support zone between the key support level of 3400.00 (formerly a resistance level from January) and the upper trendline of the recently broken up channel from May.
This support zone was further strengthened by the 38.2% Fibonacci correction of the previous sharp upward impulse from July.
Given the clear daily uptrend, Ethereum cryptocurrency can be expected to rise to the next resistance level 3800.00.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.