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In our previous Ethereum analysis, ETH Selling Off Exactly As Predicted! What Now? Watch This Target We talked about the bigger bearish picture for Ethereum and warned our readers of how this might be a great indication that the ETH sell-off might be far from over.
We also identified the bearish target we are currently watching on the 4-hour timeframe and if it plays out there is a very high probability we see another -10% dump in the value of Ethereum in the coming days.
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What Now For Ethereum?
The Ethereum bearish momentum continues to play out exactly as we predicted and in the coming days, we expect to see this bearish move lower continue.
If this bearish prediction plays out exactly as we predicted, there is a very high probability that we might see the Altcoin price crash down to the $1,500 price region or even lower in the coming days.
So for now, we will remain bearish on Ethereum and continue to look for the ETH push lower to continue.
Final Verdict!
We are still very bearish on Ethereum right now and the key pattern that supports this bearish bias is the ETH bearish Flag Pattern. We are currently tracking this key pattern in the 4-hour timeframe and watching to see if it plays out completely.
So for now, we will continue to remain bearish on Ethereum.
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