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For a couple of weeks now, we have been bearish on the Ethereum price. And in our previous ETH analysis, ETH Sell-Off Playing Out Exactly As Predicted! Watch This Price Target, we talked about the $1,815 support level as the most likely price target for this bearish sell-off for Ethereum.
Well that target as smashed, and right now, we are seeing the ETH bulls try to defend this $1,815 key level.
In this Ethereum analysis, we will be breaking down the possible price scenarios that a likely for Ethereum in the coming days and what we can expect soon!
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ETH $1,815 Key Support!
The Ethereum price has smashed our bearish target for the Ending Diagonal Pattern that was forming in the 4-hour timeframe.
Right now, the price can move in any direction. However, the key level we are currently keeping a close eye on is the $1,815 key support in the 4-hour timeframe.
For the Ethereum price to continue pushing lower, we need to see the Altcoin break below the $1,815 key support first.
So in the coming days, we will be watching this support closely to see how the ETH price interacts with it.
Final Verdict!
The ETH price is currently testing major support in the 4-hour timeframe. This $1,815 key level is very important to the ETH price.
The ETH bulls need to defend this key level at all costs if they want to stop any more push in the Ethereum price from happening.
If the Ethereum price manages to break through this $1,815 key support, there is a very high probability that we might just see this bearish trend in Ethereum continue.
So for now, we are standing aside and waiting for a clear trend to emerge sooner or later.
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