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The Ethereum bulls are back, pushing the ETH price more than 4% in value in today’s trading. This bullish rally pushed the Altcoin price above the $4,000 to $4,400 key zone on the 4-hour timeframe exactly as we predicted in a previous analysis Ethereum Key Support Holding Strong As Predicted! But For How Long?.
The question traders are asking now is:
Can the Ethereum price stay above this $4,000/$4,400 key zone on the 4-hour timeframe?
If the price goes back into this zone, there is a very high probability that we might see the sideways ranging market resume on Ethereum.
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Ethereum Key Level!
The most important level for the Ethereum bulls is the $4,400 price level on the 4-hour timeframe. This is the outer part of the zone and the critical level the Ethereum bulls must defend if they want to see this bullish rally continue to play out.
A price break back below this $4,400 key level would push the ETH price back into the support zone and a ranging market, potentially ending the current bullish rally we are seeing play out right now!
Ethereum Bullish Prediction!
If the $4,400 key support level continues to hold, then there is a very high probability that we might see the Ethereum price continue to rally higher, back up to the ETH ATHs in the coming days.
A bullish rally like this opens up the way for Ethereum to make new highs and even finally smash through the $5k price regions soon! But for this to happen, the Ethereum $4,400 key support region must continue to hold strong.
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