Bullish Double Bottom Pattern On ETH. What Next?

11:06 pm, Thu, 24 June 21

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Bullish Double Bottom Pattern On ETH. What Next?
Bullish Double Bottom Pattern On ETH 4-hour timeframe. What Next?

Ethereum has retested and is currently trading around the $1,841 support region! This retest formes a very bullish pattern called the Double Bottom.

If this bullish prediction plays out, we can expect to see the Ethereum price rally massively in the coming days.

Claim up to $30,030 in Bonus

100x Leverage

ETH Bullish Prediction

A typical Double Bottom Pattern playing out

A standard double bottom pattern is a very bullish indication for any price chart. And right now, we are seeing that same pattern playing out on the Ethereum price chart.

If this bullish prediction points to a potential end to the Ethereum bearish trend and could see the Ethereum price making new highs in no time.

Bullish Double Bottom Pattern On ETH. What Next?
Bullish Double Bottom Pattern On ETH 4-hour timeframe. What Next?

Related Article: A Beginners Guide to Crypto Margin Trading

Bullish Double Bottom Pattern On ETH! Key Levels To Watch

Bullish Double Bottom Pattern On ETH. What Next?
Bullish Double Bottom Pattern On ETH! Watch this key level on the ETH 4-hour timeframe

For price support, the key level to watch is the $1,841 support region. For the bullish pattern to remain valid, the Ethereum price needs to continue trading above this support.

The Ethereum bulls might also use this $1,841 support as a perfect base to build bullish momentum for the Ethereum price in the coming days.

Bullish Double Bottom Pattern On ETH. Bullish price prediction on the ETH 4-hour timeframe

As for resistance, the most important level to watch is the $2,893 resistance region.

A price break and close above this horizontal resistance confirm the bullish trend for Ethereum and point to a more bullish price rally in the coming days.

However, a price break and close below this support invalidate this bullish price prediction for Ethereum. A bearish move like this only points to an increased potential for more bearish pressure to enter the Ethereum market soon.

Final Verdict!

Ethereum is at a critical price level right now. If the Altcoin continues to trade above the $1,841 support, we can expect to see the Ethereum price rally higher in the coming days.

The bullish Double-Bottom pattern on the ETH 4-hour timeframe only further helps us reaffirm this bullish bias for Ethereum.

Claim up to $30,030 in Bonus

100x Leverage

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.