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In a previous Ethereum analysis, ETH Push Higher Continues! Watch This Key Level We identified the $1,933 as a minor resistance we need to see the ETH price break through and close above in the 4-hour timeframe for this Ethereum bullish rally to continue.
Well, that 4-hour key resistance is still holding strong right now. Instead, we are seeing the Ethereum price begin to range around this key level.
In this Ethereum analysis, we will be breaking down what this price range means for the Altcoin price and what we can expect to see play out in the coming days.
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ETH Ranging At This Key Level!
The Ethereum price currently building up momentum for a massive move soon. This momentum accumulation phase is right now causing the sideways market we are currently experiencing on the Altcoin.
Once this Accumulation phase is over, we expect to see a quick move in the ETH price either to the upside or downside in the coming days!
So for now, we stand aside and continue to watch this ranging market closely to see how the ETH price reacts to it.
Key Levels To Watch!
The key level to watch is the $1,933 resistance we mentioned earlier! This level is very important because the ETH price can only push higher if this key resistance gives way.
That is still yet to happen. And if the ETH bears can continue to defend this key resistance, there is a very high probability that we might see the ETH breakout occur to the downside instead.
So the question we will be waiting to see answered is “Will the ETH bulls be able to break through the $1,933 resistance or will we see a quick pullback in price from this region soon?”
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