Given the strength of the support level 2000.00 and the oversold daily Stochastic, Ethereum cryptocurrency can be expected to rise to the next resistance level 2400.00, target price for the completion of the active minor correction b and the top of the previous wave 1.
- Ethereum reversed from round support level 2000.00
- Likely to rise to resistance level 2400.00
Ethereum cryptocurrency recently reversed from the support area between the round support level 2000.00 (which has been reversing the price from the start of March, as can be seen from the daily Ethereum chart below), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse 1 from the start of February. The upward reversal from this support area created the daily Japanese candlestick reversal pattern long-legged Doji, which started the active minor correction b.
Given the strength of the support level 2000.00 and the oversold daily Stochastic, Ethereum cryptocurrency can be expected to rise to the next resistance level 2400.00, target price for the completion of the active minor correction b and the top of the previous wave 1.
Ethereum Technical AnalysisThe information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.
