Ethereum cryptocurrency can be expected to rise further toward the next resistance level 2720.00, former monthly high from last month.
– Ethereum broke resistance zone
– Likely to rise to resistance level 2720.00
Ethereum cryptocurrency recently broke the resistance zone lying between the key resistance level 2512.00 (which stopped the previous minor correction ii, as you can see from the daily Ethereum chart below) and the 50% Fibonacci correction of the downward impulse i from the end of September. The breakout of this resistance zone accelerated the active short-term impulse wave iii, which is a part of the impulse wave 3 of the intermediate impulse sequence (4) from the start of September.
Given the predominantly bullish market sentiment that can be seen across the crypto markets today, Ethereum cryptocurrency can be expected to rise further toward the next resistance level 2720.00, former monthly high from last month and the target for the completion of the active wave ii.
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