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The crypto market ended the trading day slightly bearish. However, Ethereum closed the day bullish with a more than 1% gain in value from yesterday.
This bullish rally plays out well with our previous analysis ETH Forming Double Bottom Pattern At Key Level! Buy?
In that analysis, we made a bullish prediction for Ethereum after the price formed a double bottom pattern at a key level in the 15 minutes timeframe.
This Ethereum bullish prediction played out exactly, with the price respecting the $3,168 horizontal support in the 15 minutes timeframe. We saw the bulls come back into the market and push Ethereum back up towards the previous highs all in less than 24 hours.
However, that Ethereum bullish rally is far from over. And in this analysis, we will be talking about the key levels we are currently watching.
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ETH To $3,450
Ethereum is still trading within an ascending channel in the 15 minutes timeframe. This channel gives us key levels to watch for, and right Ethereum is ranging around the middle of the channel.
This means that Ethereum still has a chance to rally higher towards the $3,450 price level soon!
A rally like this would push the price back into the ascending channel resistance region. This is a key level that has cut short the Ethereum bullish rally on numerous occasions and might do so again in the coming days.
however, a breakthrough could signify the resumption of the Ethereum bull run and a potential price rally to new ATHs! For the full bullish prediction read Must Read: Ethereum Testing Key Level. Price Rally Soon!
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