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The Ethereum bullish prediction is playing out exactly as we talked about in our previous analysis Ethereum Bullish Prediction Playing Out! What Now?.
Since publishing that TA, we have been seeing the ETH price gradually move up to our previous high of $1,345. This previous is the minimum target for the potential rally about to play out in Ethereum soon!
In this ETH analysis, we will be breaking down the key levels we are currently watching as well as the levels of invalidation for this Ethereum bullish prediction.
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ETH Key Levels To Watch!
The Ethereum bulls are in full control of the market right now. However, we do want to see the momentum to the upside pick up better in the coming days.
An increase in the bullish momentum will be a great indicator that more buyers are beginning to step into the market and take advantage of this move higher in Ethereum.
Invalidation Points For Ethereum!
The invalidation point for this bullish prediction in Ethereum remains the $1,170 key support in the 15 minutes timeframe.
As far as the ETH price continues to trade above this 15 minutes key support, there is a very high probability that we might see Ethereum smash our $1,345 target before encountering any major resistance in price.
So in the coming days, we will be keeping a close eye on Ethereum to see if the bulls can continue pushing the Altcoin price higher or if we will just see more sellers come into the market soon!
Final Verdict!
We are very bullish on the Ethereum price chart for the short term. And we will remain bullish in our bias as far as the ETH price respects and continues to trade above the $1,170 key support.
This 15 minutes support is the line in the sand for Ethereum. A price break below this key $1,170 key support invalidates our bullish prediction in Ethereum and indicates a possibility of a sell-off in prices.
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