Ethereum: ⬆️ Buy
- Ethereum broke daily down channel
- Likely to rise to resistance levels 4755.00 and 5000.00
Ethereum cryptocurrency recently broke the resistance trendline of the daily down channel from the end of August (which encloses the previous intermediate ABC correction (2)).
The breakout of this down channel accelerated the active intermediate impulse wave (3) – which started earlier from the round support level 4000.00.
Given the clear daily uptrend, Ethereum cryptocurrency can be expected to rise to the next resistance level 4755.00 (top of the earlier wave B) – the breakout of which will open the way for further gains toward 5000.00.
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