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In our previous Ethereum analysis Ethereum Testing This Major Resistance On The 1-Hour we identified a key Bullish Flag Pattern that was currently playing out in the 15 minutes timeframe.
This bullish pattern is still playing out and in this ETH analysis, we will be providing our numerous readers with updates about this pattern as well as what we believe the Altcoin price might be up to next.
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This Ethereum Key Pattern Is Still Playing Out! What Next for Price?
The Ethereum price has finally broken out of that 15 minutes flag pattern, showing signs of short-term bullish momentum building up in the Ethereum price chart.
However, for us to confirm that the bullish rally for Ethereum has really started, we need to see the Ethereum price break and close above the $1,294 minor resistance.
A bullish break above this $1,294 resistance creates a bullish price structure for Ethereum and indicates that move higher as started for the Altcoin.
Once this bullish breakout occurs, there is a very high probability that we might see the Ethereum price rally as high as $1,392 in the coming days.
Key Level To Watch For Ethereum!
This Ethereum bullish prediction and Flag pattern can only remain valid if and only if the Altcoin price can respect and continue to trade above the $1,200 lows in the 15 minutes timeframe.
As far as the ETH price does not sell off back down and break below these lows there is a very high probability that the Ethereum bulls would push prices to our target before encountering any major resistance.
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