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The crypto market has been in a recovery mode all through this week with the Ethereum price up more than 6% and rising. This price bonce in Ethereum is leading the Altcoin recovery after a brutal sell-off that lasted months.
However, there is still one major obstacle in the way for the Ethereum bulls, and in this ETH analysis, we will be talking about this obstacle and why the Ethereum price needs to break through this key resistance in the coming days.
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Ethereum $1,285 Key Resistance
The most important key resistance for Ethereum right now is the $1,285 key level in the 1-hour timeframe. This price level is a major resistance zone for Ethereum as we are seeing a lot of bearish pressure come into the market from this area.
The reality is as far as the ETH price continues to trade below this $1,285 resistance level, there is a very high probability that we might see the ETH sell-off continue rapidly in the coming days.
This makes the idea of placing any Ethereum buy trade while the price is still below this region a very low probability one.
Can Price Break Through The $1,285 Resistance?
No one knows for certain the answer to that. But what we know for sure is that
For the Ethereum price to become bullish again, the bulls need to push the price back above the $1,285 resistance region. Only then can we have open sky to keep on moving higher
But for now, while prices are still below this key resistance we will be only looking for sell opportunities to take advantage of. And one of the sell opportunities setting up in the 1-hour timeframe is the Bearish Flag Pattern.
You can check our previous analysis Bearish Targets For This Ethereum Flag Pattern! for a full breakdown of how we plan to take advantage of this key pattern and the important levels we are currently watching.
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