Table of Contents
The Ethereum bull run is still in full swing as the price of the Altcoin found support at the base of the ascending channel pattern before surging higher today.
This bullish price surge played out exactly as we predicted in our previous article ETH Bullish Prediction! Rally To $3,500? pushing the Ethereum price ever closer to our target of $3,500. Can the bulls complete this bullish move?
In this Ethereum analysis, we will be talking about the key levels we are currently watching as well as our bullish bias for the Altcoin price.
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ETH Key Levels!
The key support we are currently watching is the base of the ascendng channel pattern in the 4-hour timeframe. This base channel as served as a strong support for Ethereum on numerous occasions and plays a major role for this Ethereum bullish rally.
We will remain bullish on Ethereum provided that the price continues to trade above this key support in the 4-hour timeframe. A price break and close below this key support ends the the current bullish run in the Altcoin price.
ETH Bullish Target!
Our bullish target remains the top resistance of the ascending channel pattern in the 4-hour timeframe.
There is a very high probability that we might see the Ethereum price continue to trend higher in the coming days before finding resistance at this key region.
Final Verdict!
The Ethereum price is still bullish and might remain that way as far as price continues to respect the base channel of the ascending channel pattern in the 4-hour timeframe.
A price break and close below this key support puts an end to the bullish rally in price and increases the potential for more bearish sell-off in Ethereum in the coming days.
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