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Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00

Ethereum reversed from support zone

Likely to rise to resistance level 3200.00

Ethereum cryptocurrency recently reversed up from the combined support zone located between the key support level 2875.00 (which has been repeatedly reversing the price from the start of April), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from the start of this year. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Hammer Doji.

Given the strength of the nearby support zone, Ethereum cryptocurrency can be expected to rise further toward the next resistance level 3200.00 (former support from the end of June, which stopped the previous minor impulse wave 1).

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Ethereum Technical Analysis Report 9 July, 2024 - FinanceFeeds