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In our previous Ethereum analysis ETH Testing This Key Level! Will It Hold? we talked about the ETH $1,836 key resistance level currently holding the price back in the 15-minute timeframe.
We also warned our readers of what could happen if this $1,836 key resistance gets violated.
Well, the ETH bulls are still fighting back to regain control of the market and finally push the Altcoin price above this $1,836 key resistance. In this Ethereum analysis, we will be breaking down what the ETH price is currently doing and what we expect to see next in the coming days.
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ETH $1,836 Key Resistance
This 15-minute key resistance is very important to the Ethereum price because it could help us determine what the market sentiment is! And right now, that sentiment is still bearish and will remain bearish as far as the bears continue to defend the $1,836 key resistance!
However, we are now beginning to see the ETH bulls fight back and attempt to stop this market sell-off from happening.
But for the bulls to regain control of this Ethereum market, we need to see a clear price breakout and close above this $1,836 key level. Until the bulls can manage to push prices above this level, we will remain bearish on Ethereum.
What Should We Expect In The Coming Days?
We expect to see one of 2 price scenarios play out in the coming days. It is either the
- ETH bulls manage to push prices above the $1,836 key resistance level and invalidate our bearish bias
or
- The ETH bears continue to defend this $1,836 and wear the Ethereum bulls out before resuming the downtrend
Whatever direction the ETH price decides to go, you can expect us to continue tracking the price action and keep you up to date.
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