Categories: Technical analysis

Ethereum Wave Analysis – 8 May 2025

Ethereum: ⬆️ Buy

– Ethereum broke the resistance zone

– Likely to rise to resistance level 2100,00

Ethereum cryptocurrency recently broke the resistance area between the major resistance level 1935,00 (former monthly top from April) and the 50% Fibonacci correction of the downward impulse from March.

The breakout of this resistance zone accelerated the active short-term ABC correction ii from the start of April.

Given the strongly bullish sentiment seen across the cryptocurrency markets, Ethereum cryptocurrency can be expected to rise to the next resistance level 2100,00 (top of the previous correction iv).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Ethereum

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