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The Ethereum price is currently setting up for a massive move soon! We are currently seeing the Altcoin price compress aggressively to the upside in the 4-hour timeframe.
As this price compression continues to progress, we expect to see the Altcoin breakout either to the upside or downside in the coming days.
In this Ethereum analysis, we will be breaking down the key pattern the Altcoin price is currently forming and what we expect to see play out in the coming days.
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Ethereum Setting Up For A Massive Move Soon!
The Ethereum price is setting up for a massive move soon! And the key pattern we are watching is the converging pattern currently forming in the 4-hour timeframe.
How the Ethereum price breaks out of this key pattern will have a major effect on the direction the ETH price will trend in the coming days.
For now, this pattern is still forming and as far as the ETH price continues to trade within this key pattern in the 4-hour timeframe, we will remain neutral and stand aside, waiting for the ETH price to make a move.
Possible Price Scenarios For ETH
If you are bullish on Ethereum, then keeping an eye on this key converging pattern is a must! For the bullish confirmation for Ethereum, we need to see the ETH price breakout of this price compression/converging pattern to the upside.
However, if Ethereum decides to break to the downside, there is a very high probability that we might just see the Altcoin sell-off aggressively.
So for now, we don’t know what direction the ETH price breakout out to so we stand aside and wait for the confirmation before looking for any trade setup.
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