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Last week’s trading produced one of the most boring markets in crypto history. For days and days, we saw the ETH price trade sideways with little to no volume coming into the market.
This sideways trading range and low market volatility have raised a lot of questions among traders as to what might be causing this and when we might be expecting it to end.
In this Ethereum analysis, we will be talking about the key pattern that is currently forming right now in the 15 minutes timeframe. This pattern might help us predict exactly when this ETH range might be over!
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Ethereum Triangle Pattern
The Triangle Pattern usually plays out before a massive move occurs. The image above is an illustration of what a completed triangle pattern might look like.
Now when we compare this illustration with the current price action currently playing out in the Ethereum 15 minutes timeframe, we see a lot of similarities that confirm we might be seeing a key triangle pattern playing out right now on the ETH price.
If this pattern completes in the coming days, we can expect to see Ethereum end the sideways range and break out either to the upside or downside.
So What Should We Expect For Next Week?
Ethereum is still trading within this triangle pattern, so for next week, we will be watching this Triangle Pattern closely to see how the ETH price breaks out from it.
Whatever direction that breakout takes might be the new trend Ethereum will take for the next couple of days before facing any major resistance.
But for now, we stand aside and wait for the ETH price to decide on what it would do next.
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