- Ethereum/Bitcoin broke multiple resistance levels
- Next buy targets – 0.0850 and 0.0900
Ethereum/Bitcoin continues to rise inside the sharp minor impulse wave 3 – which previously broke though the multiple resistance levels: 0.7000 (which stopped the previous minor impulse wave 1 at the start of January, as can be seen from the daily ETH/BTC chart below), 0.0770 (top of the minor corrective wave 2 from the middle of September), resistance trendline of the narrow daily up channel from the start of December and the 38.2% Fibonacci correction of the previous long-term ABC correction ② from the middle of June.
The breakout of the aforementioned resistance levels accelerated the active minor impulse wave 3 – which started earlier from the key support level 0.0560 (former strong resistance level from November and October, which stopped the previous minor corrections (iv), (a) and 4)).
ETH/BTC is expected to rise further to the next buy target at the next resistance level 0.0850 (former resistance level from August) – the breakout of which can lead to further gains toward the next by target at 0.0900.
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