ETH Potential Double Bottom Pattern Forming At Key Support!

2:19 pm, Sun, 28 November 21

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?

The double bottom pattern is a very high-quality bullish reversal pattern that indicates when a price sell-off might be coming to an end. And right now, Ethereum is forming this bullish reversal pattern at a very key support level on the 1-hour timeframe.

If this pattern plays out, there is a very high probability that we might see a massive rally in the Ethereum price very soon!

ETH Potential Double Bottom Pattern Forming At Key Support!
ETH Potential Double Bottom Pattern Forming At Key Support! Watch this bullish prediction on the 1-hour timeframe

In this ETH analysis, we will be talking about the key levels we are watching as well as the most important key support that needs to hold for this double bottom bullish reversal pattern to remain valid!

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Ethereum Double Bottom Pattern!

Ethereum formed a double bottom pattern at this 1-hour key support previously! Can the price rally from this region again?

This double bottom pattern as played out before on the Ethereum price chart and we saw the bullish rally that followed it. And right now, this new double bottom pattern is forming exactly at the same region the previous one formed.

This price confluence increases the importance of this $3,890 horizontal key support currently holding the Ethereum price on the 1-hour timeframe.

ETH Potential Double Bottom Pattern Forming At Key Support!
ETH Potential Double Bottom Pattern Forming At Key Support! Watch this $3,890 key support on the 1-hour timeframe

For this Ethereum bullish prediction to remain valid, the ETH price must respect and continue to trade above this $3,890 key support on the 1-hour timeframe.

A break below this 1-hour support only invalidates this double bottom pattern and points to a higher likely hood of price selling off more steeply in the coming days.

Ethereum Pattern Confirmation!

The confirmation we need for the double bottom pattern is a price break and close above the neckline region on the 1-hour timeframe. Until the Ethereum price breaks through this region, we are going to stand aside and wait.

And the main reason for waiting is because, until the neckline is broken the ETH double bottom pattern is not completed yet!

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.

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

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: