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The Ethereum price is just coming out from a massive rally that played out all through last week. This bullish rally was caused by the Triangle Pattern we tracked to completion in the 4-hour timeframe.
Right now, we are seeing another bullish pattern form in the 4-hour timeframe. In this Ethereum analysis, we will be talking about the bullish Flag Pattern currently forming right now, what it means for the price, and what we should be expecting next.
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Ethereum Bullish Flag Pattern
The Ethereum price is currently forming a bullish flag pattern in the 4-hour timeframe. This pattern is very important right now because it helps us understand what the ETH price is doing right now and what it might be getting ready to do in the coming days.
The image below is what a completed Flag Pattern looks like.
If this bullish Flag Pattern plays out exactly in the coming days, there is a very high probability that we might see another +15% rally in the Ethereum price again!
So for now, we are closely watching this Bullish Flag pattern to see if it would play out.
Final Verdict!
Right now, Ethereum is currently in a ranging market in the 4-hour timeframe. This ranging market is forming what looks like a Bullish Flag Pattern in the 4-hour timeframe.
If this bullish pattern remains valid and plays out, there is a very high probability that we might see another +15% rally in the ETH price again.
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