Table of Contents
In our previous Ethereum analysis Warning: What Does This Ending Diagonal Pattern Mean For Ethereum? we made a bullish prediction for the ETH price. In that bullish prediction, we expect to see the ETH price rally over +10% in the coming days.
This bullish prediction has been playing out exactly as we predicted. But right now, that ETH rally is stalling at a key liquidity spot in the 1-hour timeframe.
The question now is can Ethereum take out this liquidity and keep heading higher in the coming days or will we see the Altcoin crash back down soon?
In this Ethereum analysis, we will be breaking down the key levels we are currently watching as well as the highest price predictions we believe might play out next!
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 $4,450 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link
ETH Liquidity Spot! Can Price Break Through?
The key level we are watching is the $1,787 price level in the 1-hour timeframe. If the Ethereum bulls fail to break through this key resistance there is a very high probability that we might see a price sell-off in the coming days.
So all eyes will be on this $1,787 price level for days to come to see how Ethereum will react to it.
Can Ethereum Continue To Rally On In The Coming Days?
For the Ethereum bull run to be sustained, the ETH bulls will need to break through and close above this $1,787 key resistance level in the 1-hour timeframe.
A bullish break out like this is the perfect confirmation we need to indicate that the bulls are still in control of the market.
If the Ethereum price fails to break through this key resistance level, there is a very high probability that we might see the Altcoin price begin to sell off from this region in the coming days.
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best 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
