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In our previous Ethereum analysis, Ethereum is Getting Ready To Explode! we identified a key pattern that was playing out in the ETH 15 minutes timeframe! We also warned our readers of the potential break out in price that was about to happen.
In this Ethereum analysis, we will be providing our readers with an update on that price prediction, the bullish breakout that is playing out now, and the key levels we are keeping a close eye on.
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Ethereum Bullish Prediction Playing Out!
Since publishing that last TA, we have seen the Ethereum price surge higher, breaking through the converging pattern and indicating there is a very high probability for more bullish buyers to enter the market.
If this bullish prediction plays out, we might see the Ethereum price rally back to previous highs of $1,345 in the coming days or even higher.
So for now, we will be keeping a close eye on this pattern to see if more buyers will start coming and pushing the Ethereum price up.
Key Levels To Watch!
The most important level for this bullish prediction in Ethereum right now is the $1,170 key support in the 15 minutes timeframe.
This is the price low the Ethereum bulls must protect and defend at all costs for this potential bullish rally to remain valid in Ethereum. A price break below this $1,170 support only indicates an increased possibility of price selling off in the coming days.
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