ETH Previous Support Now New Resistance! What Next?

9:00 am, Sat, 11 June 22

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
Ethereum Testing This Key Support! Will It Hold? Watch this key pattern in the 4-hour timeframe
Ethereum price prediction from a previous analysis Urgent: Ethereum Testing This Key Support! Will It Hold?

In our previous Ethereum analysis Urgent: Ethereum Testing This Key Support! Will It Hold? we warned our readers of the possible break of the $1,684 key support level in the coming days. This support level also served as the base channel of the Descending Triangle Pattern the Ethereum price has been trading in for weeks now!

By breaking through this $1,684 support, the Ethereum price is finally out of that Descending Triangle Pattern and now has the potential to continue trending lower in the coming days.

ETH Previous Support Now New Resistance! What Next? Watch this price prediction in the 4-hour timeframe
ETH Previous Support Now New Resistance! What Next? Watch this price prediction in the 4-hour timeframe

In this Ethereum analysis, we will be talking about the key levels we are currently watching as well as our price forecast for the coming days.

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 $4450 in Bonus

100x Leverage

ETH Previous Support Now New Resistance!

ETH Previous Support Now New Resistance! What Next? Watch this price prediction in the 4-hour timeframe
ETH Previous Support Now New Resistance! What Next? Watch this price prediction in the 4-hour timeframe

The $1,684 previous support is now a major resistance for the ETH bulls. For the Ethereum price to remain bearish, this new resistance must continue to hold the price down.

We can also expect to see more sellers begin to enter the market from this $1,684 resistance level in the coming days. And the more sellers enter, the more likely we will see a continued push to the downside for Ethereum.

What Pattern To Watch?

The key pattern that is still in our main focus is the Descending Triangle Pattern currently playing out in the 4-hour timeframe.

This pattern is currently completed with the price giving us confirmation that it might be ready to continue moving to the downside in the coming days.

The target for a price move like this would be the standard target for a Descending Triangle Pattern. And for Ethereum, that target would be the $1,364 price level

ETH Previous Support Now New Resistance! What Next? Watch this price prediction in the 4-hour timeframe
ETH Previous Support Now New Resistance! What Next? Watch this price prediction in the 4-hour timeframe

Claim up to $4450 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 $4450 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: