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In our previous Ethereum analysis Warning! ETH Testing This Key Zone. Get Ready We identified the $1,800 major resistance zone in the 4-hour timeframe as the most important key price level that determines the trend of the ETH price in the coming days.
And since publishing that TA, we have seen more bearish pressure pile into the market, with ETH sellers coming in to defend this $1,800 price level.
In this Ethereum analysis, we will be breaking down what this increased bearish pressure means for the ETH price and what we can expect in the coming days.
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ETH Bearish Price Prediction!
The most important key level we are still watching right now in the ETH 4-hour timeframe is the $1,800 resistance region.
We are seeing more bearish pressure get pushed into this level as sellers are struggling to defend it and stop the ETH price from rallying higher any further.
If the Ethereum bears can continue to defend this key level, there is a very high probability that we might see a massive price move lower in the coming days.
So for now, we are keeping a close eye on this key region to see how the ETH price reacts to it.
And this is very important because how ETH reacts to this key resistance region will affect the trend of the Altcoin for a while.
Final Verdict!
The Ethereum price is not bullish yet! For the Altcoin to be bullish, we need to see the ETH price breakthrough and close above this $1,800 key resistance zone in the 4-hour timeframe.
As far as the Altcoin price remains below this key zone, we can only expect to continue seeing more bearish pressure pile up in the Ethereum price.
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