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The Ethereum price is still trading within the Ending Diagonal Pattern currently forming in the 1-hour timeframe. We talked in-depth about this pattern and how it can affect price in a previous ETH analysis Warning: What Does This Ending Diagonal Pattern Mean For Ethereum?
This bullish prediction is still very valid. However, Ethereum is facing steep resistance ahead. And in the coming days, we will be keeping a close eye on this $1,787 resistance region to see how the price reacts to it.
In this Ethereum analysis, we will be breaking down the key levels we are currently watching as well as our bullish prediction for the Ethereum price in the coming days.
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Is The Ethereum Rally Far From Over?
For our bullish bias on Ethereum to be invalidated, the ETH price will need to break through the $1,558 previous lows in the 1-hour timeframe. As far as the Ethereum price stays above this $1,558 previous lows, we will remain bullish on Ethereum.
This previous low region also serves as key support for the Ethereum bulls and in the coming days, we expect to see more buying pressure come into the market and push the Altcoin higher.
Final Verdict!
We are still very bullish on the Ethereum price chart. We believe there is a very high probability for us to see a price bounce in the coming days. If this bullish price bounce occurs, we can expect to see the Ethereum rally continue in the coming days.
This bullish prediction will remain valid as far as the ETH price continues to trade above the previous lows of $1,558.
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