Here’s when Ethereum investors can expect reversal from ongoing rally

Here's when Ethereum [ETH] investors can expect reversal from ongoing rally

Over the last five days, Ethereum [ETH] saw a revival from its month-long demand zone in the $1,049 zone. The streak of recent green candlesticks has transposed ETH into a near-term bullish control.

As this phase progresses, a potential rebound from the golden Fibonacci level could ease the immediate buying pressure. At press time, ETH traded at $1,471, up by 8.02% in the last 24 hours.ETH’s Bollinger Bands have revealed a one-sided bullish edge while the price was hovering near its upper band. The alt’s close above the basis line of the BB opened doorways for this steep recovery.

However, the bulls quickly ensured the $1,049-zone demand zone and propelled an up-channel revival in the 4-hour timeframe. Meanwhile, the 20 EMA jumped above the 200 EMA to reflect the heightened bullishness.

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