Table of Contents
Our Ethereum bullish prediction from our previous analysis ETH Bullish Breakout Playing Out Exactly! Watch This Target is playing out exactly and we believe the ETH rally might still be far from over!
In this Ethereum analysis, we will be updating you on the current movement in the ETH price right now as well as talking about the most important support level the ETH bulls have to defend if we want this bullish rally to continue.
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
What Is Ethereum Doing Right Now?
Since posting our last TA, we have seen the ETH bullish prediction continue to play out exactly! This rally in price plays out exactly to what we are expecting to see from a Triangle Pattern breakout and we believe that the Ethereum bullish move higher might still be far from over.
In the coming days, we expect to see the Altcoin continue to push up to the $2,030 price level. This is bullish target is the standard target for the Triangle Pattern.
But for this bullish prediction to play out, the ETH price must continue to respect and trade above a key support level in the 4-hour timeframe.
ETH $1,757 Key Support Level!
The Ethereum $1,757 previous lows in the major support region the ETH bulls must defend at all costs.
This $1,757 key support is so important to us because it is our Invalidation Level for our bullish bias and the Triangle Pattern we are currently tracking in the 4-hour timeframe.
In simple terms: For our bullish prediction in Ethereum to continue to remain valid, we need to see the ETH price respect and continue to trade above the $1,757 key support in the 4-hour timeframe.
If the ETH price manages to pierce this support in the coming days, there is a very high probability that we might see a massive sell-off follow it.
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
