11.02.202111:41 Forex Analysis & Reviews: Ethereum soars up

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ETH/USD corrected, and now it has bounced up from the mirrored support level formed by the highs last February 4.

And since this movement at 1,697.27 (lower red dotted line) has held out, there is a high chance that Ethereum will jump to 1,837.94, after which it will pull back by 161.8%.

But there is also a chance that ETH/USD will halt at 1,761.85 (upper red dotted line), which will lead to a sideways movement around 1697.27 - 1761.85. And if the quote breaks below 1,697.27, ETH will begin trading downwards.

Ekaterina Kiseleva
Analytical expert of InstaForex
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