The Ethereum cryptocurrency recently reversed from the support zone between the key support level of 3400.00 (formerly a resistance level from January) and the upper trendline of the recently broken up channel from May.
This support zone was further strengthened by the 38.2% Fibonacci correction of the previous sharp upward impulse from July.
Given the clear daily uptrend, Ethereum cryptocurrency can be expected to rise to the next resistance level 3800.00.
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