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The Ethereum price is currently in a ranging phase in the 15 minutes timeframe. This sideways trading is creating a key Triangle Pattern that we are seeing the ETH price respect as the days go on.
This Triangle Pattern helps us better understand what Ethereum is doing right now, and what we can expect in the coming days.
In this Ethereum analysis, we will be breaking down exactly what this key pattern means for the Ethereum price as well as the possible price scenarios we can expect once this pattern is completed.
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Ethereum Triangle Pattern!
The Triangle Pattern is well known among professional traders all over the world and is used as an anticipation pattern that forms once the price is getting ready to make a massive move.
Once completed, we expect to see a price breakout from this pattern either to the upside or downside.
An example of what that would look like is the image below that shows a completed triangle pattern and the possible bullish or bearish breakouts it could take.
What Does This Mean For Ethereum?
Well, the Ethereum Triangle Pattern currently forming in the 15 minutes timeframe is still yet to be completed, so in the coming days, we might continue to see this sideways trading within the pattern as the Altcoin continues to build momentum for the coming breakout!
So in the coming days, we will be keeping a close eye on this pattern to see how the Altcoin interacts with it and also get ready to catch the breakout once the pattern is completed.
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