The Ethereum cryptocurrency recently reversed upwards from a key support level at 3200.00 that has been reversing the price since early March.
– Ethereum reverses from support level 3200.00
– Possible rise to resistance level 1.2700
As you can see from the Ethereum daily chart below, the cryptocurrency Ethereum has recently reversed upwards from an important support level at 3200.00 and has been reversing its price since the beginning of March. The support level 1.2570 was further increased by the lower bound of the daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from the beginning of the year. The upward reversal from the support level 3200.00 formed the daily candlestick reversal pattern Doji, halting the previous minor ABC correction 2.
Given the strength of the nearby support level at 3200.00, a clear daily uptrend, and the bullish sentiment seen across the crypto market today, we expect Ethereum to move higher towards the next resistance level at 1.2700. will be done.
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