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The crypto market ended the trading day bearish today as the price of both Bitcoin and Ethereum continue to struggle to keep up the bullish rally we have been seeing play out all through last week.
However, that slump in the Ethereum bullish momentum might just be over soon. The Ethereum price is currently trading within a converging pattern on the 15 minutes timeframe.
This pattern provides us with key levels to watch as well as targets to aim for in the coming days.
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Watch This Key Level!
The key support to watch for on the Ethereum price is the base of that converging pattern currently playing out on the 15 minutes timeframe. This support has held the price up on numerous occasions and might do so again.
If this bullish prediction plays out we can expect to see Ethereum find support and continue to rally higher in the coming days. But for this to happen, Ethereun needs to hold the converging pattern support.
ETH Bullish Target
For the Ethereum bullish target, we expect to see the altcoin price continue to push back up to the top of the converging pattern in the 15 minutes timeframe.
This level has served as key resistance on numerous occasions and might do so again. However, a break of this sloping resistance could mean a resumption of the bullish trend on Etthereum.
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