Table of Contents
The direction the Ethereum trend will take in the coming days is directly dependent on if the Altcoin price can stay above a major key support level in the 4-hour timeframe.
We have seen this $1,823 support get defended over and over again in the past. And when the ETH price managed to break below it, we saw a massive sell-off follow.
This indicates the importance of this key level, and in this Ethereum analysis, we will be focusing on it and talking about the possible price scenarios that might be possible for the Ethereum price come next week.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $30,000 Bonus when you fund your Bybit account with our Bybit link
Possible Price Scenarios For Ethereum
For Ethereum to remain bullish, the ETH $1,823 key support must be respected at all costs! This key support is the line in the sand and it helps us fully understand what the ETH price is doing right now.
If the ETH bulls can defend this key support, there is a very high probability that we might see more bullish momentum begin to enter the market come next week.
So in the coming days, we will be keeping a close eye on this $1,823 key support level to see how the price reacts to it in the coming days.
Final Verdict!
The Ethereum price is right now in the bullish territory and there is a very high probability that we might see the Altcoin continue to push higher in the coming days.
However, for this bullish bias and momentum to remain valid, we need to see the Altcoin respect and continue to trade above the $1,823 key support level in the 4-hour timeframe.
As far as the ETH price can stay above this 4-hour key support, there is a very high probability that we might see more buyers begin to step back into the market in the coming days.
However, if this key level gives way, this could be really bad for the ETH bulls.
How to Trade Bitcoin (BTC)?
To understand the basics of Bitcoin trading, you can read our How To Trade Bitcoin Guide. It can prove helpful for traders who are just getting started with Bitcoin trading. You can also check out our list of top Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting
