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The Ethereum price is currently breaking out of an Expanding Channel Pattern in the 15 minutes timeframe.
If this bullish breakout plays out exactly as we expect, there is a very high probability that we might see a more than +5% surge in the value of Ethereum in the coming days.
In this Ethereum analysis, we will be breaking down this key Expanding Channel Pattern as well as the key levels we are currently watching.
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Ethereum Expanding Channel Pattern
This Expanding Channel pattern has a standard way of trading it, as well as a standard target to aim for when it comes to the bullish move we expect it to make in the coming days.
For Ethereum, we already have a bullish confirmation that indicates we might see higher price movement in the coming days. The question now is will the buyers begin re-entering the market soon?
Once we see buyers begin to re-enter the market, we can then expect to see the Altcoin rally aggressively in the coming days.
Ethereum Bullish Target!
The bullish target for this Expanding Channel Price breakout is the $1,596 price level. This is a potential 5% rally in the Ethereum price and we might see this move play out very soon!
So in the coming days, we will be keeping a close eye on this pattern to see how Ethereum performs with it.
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