Ethereum cryptocurrency can be expected to rise to the next resistance level 1856.00 (target price for the completion of the active minor correction ii and the top of earlier wave 2).
- Ethereum reversed from support zone
- Likely to rise to resistance level 1856.00
Ethereum cryptocurrency continues to rise steadily after the price reversed from the support area located between the key support level 1529.00 (which stopped the previous minor impulse wave 1 at the start of June, as can be seen from the daily Ethereum chart below) and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor correction ii – which recently broke the resistance trendline from the start of May
Given the strength of the support level 1529.00 and the predominantly bullish sentiment seen across the crypto markets today, Ethereum cryptocurrency can be expected to rise to the next resistance level 1856.00 (target price for the completion of the active minor correction ii and the top of earlier wave 2).