This key pattern is indicating that there is a very high probability for us to see the ETH price sell off aggressively in the coming days. In this ETH analysis, we will be breaking down what our bearish target for a move like this will be and what we are currently waiting to see happen.
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The image above is a sample of what a completed bearish Flag Pattern looks like. When you compare that with the current price action playing out in the ETH 4-hour timeframe, we see that the ETH price is still yet to make the final move lower to complete this pattern.
A bearish move like this could easily see the Altcoin price crashing back down to the $1,508 price region. This is about a -15% loss in the value of Ethereum if it plays out.
So in the coming days, we will remain bearish on the ETH price and continue to track this Bearish Flag Pattern to see how it plays out.
Urgent! Watch This ETH Bearish Target For This Key Pattern currently playing out in the 4-hour timeframe
Side Note: We talked in-depth about the key support that must be broken to confirm the start of this bearish flag pattern sell-off in Ethereum.
We are still very bearish on Ethereum and we believe the altcoin price might be getting ready to dump more than -15% in the coming days. The key pattern that supports this bearish bias is the Flag pattern currently forming in the 4-hour timeframe.
All we need now is to see the ETH price break below the $1,755 key support to confirm the start of the sell-off.
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