Table of Contents
The most important resistance zone we will be keeping our eyes on come next week is the $1,400 price level.
This key level is very important to the ETH bulls because the Ethereum price has struggled to break through this $1,400 price level for weeks now and failed!
If this level continues to hold, there is a very high probability that we might just see Ethereum drop back down.
In this ETH analysis, we will be breaking down the key levels we are currently watching as well as what the Ethereum bulls must do to push the Altcoin price into bullish territory.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,380 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link
Ethereum $1,400 Key Resistance!
For Ethereum to become bullish for next week, the Altcoin price will need to break through and close above the $1,400 key resistance in the 15 minutes timeframe.
A bullish breakout like this signifies the end of the Ethereum sell-off and a potential bounce in the ETH price.
Until a bullish breakout like this occurs, Ethereum will remain in the bearish territory and the bears will have the ability to continue pushing the prices lower as the day goes on.
Final Verdict!
We are still short-term bearish on Ethereum! This bearish bias will remain valid as far as the bears can defend the $1,400 key resistance zone in the 15 minutes timeframe.
For a full breakdown of our current Ethereum bearish prediction, check out our previous ETH analysis ETH Price Prediction: What The Bigger Picture For Ethereum Looks Like
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting
