The quotations of the ethereum cryptocurrency after a few weeks of inheritance set the local minimum just above the level of 600 dollars. Currently, the demand side has rebounded and approached the first strong supply zone located in the price region of $ 720. If it is broken, the road to attack the higher levels opens.

Rysunek 1. Analiza techniczna,ethereum,H4,13.03.2018

The continuation of increases assumes an attack at least on the area of the key resistance level, which is defined on the basis of the principle of changing poles and additionally confirmed by the downward trend line.

Picture 2. Technical analysis, ethereum, H1,13.03.2018

A possible continuation of increases should lead to a re-test of the 580 support level, which is also a several-week minimum.

Risk Warning: The content of this analysis is for informational purposes only and does not constitute investment advice.

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