Ethereum Wave Analysis 30 January 2025

- Ethereum reversed from support zone
- Likely to rise to resistance level 3340.00

Ethereum cryptocurrency recently reversed up strong from the support zone located between the round support level 3000.00 (which has been reversing the price from November), lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from November.

The upward reversal from the support level 3000.00 stopped the previous short-term ABC correction 2 – which belongs to the impulse wave (3) from January.

Given the strength of the support level 3000.00, Ethereum cryptocurrency can be expected to rise further to the next resistance level 3340.00.