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The Ethereum price has been playing out exactly how we predicted it in our last Altcoin analysis ETH Trading At A Critical Level. Rally To ATH? Watch This Level!
The break of this $2,836 critical level opens the way for us to see the Ethereum price rally to its ATHs in the coming days.
This is very bullish for both Ethereum and the Altcoin market in general. And in this analysis, we will be talking about the most important price levels we are watching as well as the possible price scenarios we believe might play out in the coming days.
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The ETH $2,836 Key Support
For us to remain bullish on ETH, the price must continue to trade above the $2,836 level on the 4-hour timeframe. This level is very important for the bulls and must be held at all costs.
A price break and a close below this 4-hour support could cause the ETH price to sell off steeply.
However, if this level continues to hold we can expect to see more bullish buying power and momentum come back into the Ethereum market in the coming weeks.
Ethereum Rally Continues
For this price scenario, we believe Etherem is still very bullish and might just continue to surge higher in the coming days. If this plays out, we can expect to see the Ethereum price continue to rally into next week.
Ethereum will face no other major resistance until it gets to the previous highs around $4k. That is a potential 36% growth in the coming days.
Final Verdict!
We are still very bullish on Ethereum and believe the Altcoin price has the potential of breaking into new ATHs soon! But for that to happen, the price must respect the $2,836 support on the 4-hour timeframe.
As far as ETH continues to trade above this support, we will remain bullish on Ethereum. However, a break and price close below this $2,836 support could spell doom for the Ethereum bulls.
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