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The Ethereum price has been selling off for weeks now! However, there is a very high probability that the sentiment is about to flip for the short term.
Right now we are seeing a massive Inverse Head and Shoulders Pattern playing out in the 15 minutes timeframe. The Ethereum price has broken through the Neckline Region and is now waiting for bullish momentum to come in and push the value higher.
In this Ethereum analysis, we will be talking about the possible targets for a bullish move like this and the key levels we are currently watching.
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Ethereum Inverse Head and Shoulders Pattern
The bullish target for this Inverse head and shoulders pattern move is the high of $1,477.
There is a very high probability that we might see the Ethereum price rally to this key level before facing any major resistance. This is a potential +10% price rally to that $1,477 key level in the 15 minutes timeframe.
Invalidation Points For This Pattern
The Ethereum 15 minutes previous lows of $1,260 is the key support that needs to be respected if we want to see this Ethereum bullish prediction play out in the coming days.
If the price breaks below this $1,260 key support level, you can check out our bearish prediction for Ethereum below that support in our previous TA ETH Head and Shoulders Pattern Playing Out! This Support Needs To Be Broken
Final Verdict!
The Ethereum price is showing signs of a possible price surge coming soon! The key pattern that supports this bullish bias is the Inverse Head and Shoulders Pattern currently playing out in the ETH 15 minutes timeframe.
If this bullish prediction plays out, we might see Ethereum rally more than +10% in value before encountering any major resistance.
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