Table of Contents
The image above is what a typical completed Triangle Pattern looks like. Once the pattern is completed, we see a clear breakout and price surge either to the upside or downside.
Now, when you compare that image to what the price action is looking like right now in the Ethereum price chart, we see a lot of similarities in the pattern currently forming.
The question traders are now asking is “what direction will this price breakout take in the coming days?”
In this Ethereum analysis, we will be talking about the possible price scenarios we can expect and the key levels we are currently watching.
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Ethereum Getting Ready For A Massive Move!
The Ethereum price is currently setting up for a massive breakout in the coming days. The direction this breakout will take will depend on the key level the ETH price will push past in the coming days.
If Ethereum breaks out of this 15 minutes triangle pattern to the upside in the coming days, we can expect to see a quick push higher for the ETH price.
However, if the Ethereum price breaks out of the triangle to the downside, we can expect to see a quick sell-off follow. So for now, we are just aside and watching to see what level gives way in the coming days.
Final Verdict!
The ETH triangle pattern is still very valid and we can see the Altcoin still respecting and trading within it. However, we believe this sideways range might be over soon as the ETH price is setting up to break out from this Triangle pattern soon.
How price breaks out of this pattern will have a direct effect on the direction of the ETH trend for the coming days.
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