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Ethereum prices reversed from resistance

ETH – Ethereum cryptocurrency prices recently reversed down from the resistance area located at the intersection of the key resistance level 3490.00 (former monthly low from December), upper daily Bollinger Band, the resistance trendline of the daily up channel from January and the 50% Fibonacci correction of the previous sharp downward impulse from November. This reversal stopped the previous correction (2).

 

Given the strength of the nearby resistance area of 3490.00 – Ethereum prices can be expected to fall further in the cryptocurrency market toward the next round support level 3000.00 (which former strong resistance from March).

ETHUSD - Primary Analysis - Apr-07 1330 PM (1 day)

 

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