Ethereum
Ethereum Technical Analysis Report for July 9, 2024
Ethereum cryptocurrency can be expected to rise further towards the next resistance level 3200.00
– Ethereum has moved away from the support zone
– Probably a rise to the resistance level 3200.00
The Ethereum cryptocurrency recently reversed from the combined support area between the key support level at 2875.00 (which has reversed the price several times since the beginning of April), the lower daily Bollinger Band, and the 61.8% Fibonacci correction of the upward impulse from earlier this year. The upward reversal from this support area created the daily reversal pattern of the Japanese Hammer Doji candlesticks.
Given the strength of the nearby support zone, we can expect the Ethereum cryptocurrency to rise further towards the next resistance level 3200.00 (former support from late June, which stopped the previous minor impulse wave 1).
Ethereum Analysis
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