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The Ethereum price is currently forming a bullish flag pattern in the 15 minutes timeframe. This key pattern indicates a possible rally in the ETH price soon!
In this ETH analysis, we will be breaking down our bullish bias in Ethereum and this key Flag Pattern we are currently watching.
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ETH Ready To Surge?
The Key Pattern we are watching exactly on the Ethereum 15 minutes timeframe is the bullish flag pattern. The image above is a typical example of what a completed flag looks like.
Right now, the Ethereum price is still in the ranging phase of this flag pattern. But once this phase is over, there is a very high probability that we might see a massive breakout to the upside.
A bullish breakout like this is the perfect confirmation we need to indicate the start of the rally higher for Ethereum.
ETH Bullish Flag Pattern Indicates A Buy! Watch This Bullish target
Our bullish target for this Ethereum flag pattern is the $1,675 price level. This is a potential surge of about 5%+ that we might see play out in the coming days.
So for now, we will keep a close eye on the Ethereum 15 minutes flag pattern for a potential rally in Ethereum very soon!
Final Verdict!
We believe the Ethereum sell-off that started earlier this week might be finally coming to an end. The key pattern that supports this bullish bias is the Bullish Flag Pattern currently forming in the ETH 15 minutes timeframe.
If this pattern plays out exactly, there is a very high we might see the Ethereum price surge higher very soon!
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