The cryptocurrency of ethereum, like most of the major cryptocurrencies, has had a period of dynamic declines. In the case of ethereum, the falls led to the test of an important level of support located in the price region of $ 360. The demand response indicates that we are currently facing the chance of a greater rebound towards the north.
If the growth scenario is implemented, the next target for bulls will be the local resistance level defined on the basis of the polarity change rule.
I estimate the maximum range for a possible upward reaction to the confluence of the downward trend line and the level of resistance around 640 dollars.
Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.