Ethereum Reverses from Support Zone, Targets 1856.00 Resistance

Ethereum reversed from a support zone between the 1529.00 level and the lower daily Bollinger Band, initiating an upward move that recently broke the resistance trendline from the start of May. The reversal began after the 1529.00 support level stopped the previous minor impulse wave 1 at the start of June. Technical analysts identify 1856.00 as the next resistance level, representing the target price for completion of the active minor correction ii and the top of earlier wave 2, supported by the strength of the 1529.00 support level and predominantly bullish sentiment across crypto markets.

Ethereum Reverses from Key Support Zone at 1529.00

Ethereum's price reversed from a support area located between the key support level 1529.00 and the lower daily Bollinger Band. The 1529.00 support level previously stopped the minor impulse wave 1 at the start of June. The upward reversal from this support zone started the active minor correction ii, which recently broke the resistance trendline from the start of May.

Technical Indicators Point to 1856.00 Resistance Target

The next resistance level stands at 1856.00, which represents the target price for the completion of the active minor correction ii and the top of earlier wave 2. This technical target is supported by the strength of the 1529.00 support level and the predominantly bullish sentiment seen across the crypto markets today.

FAQ

What support level did Ethereum reverse from?

Ethereum reversed from a support zone between the 1529.00 level and the lower daily Bollinger Band. The 1529.00 support level previously stopped the previous minor impulse wave 1 at the start of June.

What is Ethereum's next resistance target?

The next resistance level is 1856.00, which represents the target price for completion of the active minor correction ii and the top of earlier wave 2, based on technical analysis of support level strength and current bullish crypto market sentiment.