ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support?

12:27 am, Sun, 19 September 21

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Ethereum bearish prediction from a previous analysis Ethereum Needs To Keep Trading Above This Key Level To Remain Bullish!

In our previous ETH analysis Ethereum Needs To Keep Trading Above This Key Level To Remain Bullish!, we talked about the Ethereum key resistance currently playing out in the 4-hour timeframe and how this could be a major problem for the Ethereum bullish rally.

We also made a bearish prediction, and right now the Ethereum price is playing out exactly as we predicted. However, the bulls still have a fighting chance to turn everything around.

ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support?
ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support? Watch this bullish prediction playing out in the 4-hour timeframe

In this Ethereum analysis, we will be talking about the $3,345 horizontal support Ethereum is currently testing and how this level can play a major role in turning the Ethereum trend around.

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The Ethereum Higher Low Bullish Structure

Ethereum is currently forming bullish price structures in the 4-hour timeframe. What next?

The Ethereum price just formed a Higher-low bullish structure in the 4-hour timeframe. This structure indicates there is a very high probability for us to see more bullish momentum come into the ETH price soon.

But for that bullish hope to remain valid, the Etherum price needs to continue trading above the previous lows in the 4-hour timeframe. And this previous low is the $3,345 horizontal price level.

ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support?
ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support in the 4-hour timeframe?

ETH Bullish Prediction!

If this $3,345 horizontal support continues to hold, there is a very high probability that we might see a price bounce and subsequent rally in the Ethereum price in the coming days.

This rally would likely push Ethereum back above the resistance region in the 4-hour timeframe and even higher in the coming days

ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support?
ETH Price Trending Lower! Can The Bulls Hold The $3,345 Support? ETH bullish prediction in the 4-hour timeframe

But for this bullish prediction to remain valid, the Ethereum price must respect and continue to trade above the $3,345 horizontal support in the 4-hour timeframe.

A break below this $3,345 horizontal support in the 4-hour timeframe only indicates more bearish price action for Ethereum.

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