ETH Running Into Multiple Resistance! Can The Bulls Break Out?

3:48 pm, Sun, 12 September 21

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The ETH Rally As Started! Watch These Bullish Price Targets
Ethereum bullish prediction from a previous analysis The ETH Rally Has Started! Watch These Bullish Price Targets

Our ETH bullish prediction in The ETH Rally Has Started! Watch These Bullish Price Targets is playing out perfectly! The Ethereum price has been rallying ever since we published that analysis.

However, the Ethereum price is currently running into multiple key resistance in the 4-hour timeframe. But is the bullish rally over?

In this Ethereum analysis, we will be talking about these key levels as well as the potential for a 15% surge in the Ethereum price in the coming days!

ETH Running Into Multiple Resistance! Can The Bulls Break Out?
ETH Running Into Multiple Resistance in the 4-hour timeframe! Can The Bulls Break Out? Ethereum bullish prediction

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Ethereum Running Into Multiple Resistance

ETH Running Into Multiple Resistance! Can The Bulls Break Out?
ETH Running Into Multiple Resistance in the 4-hour timeframe! Watch these key levels

The Ethereum price is currently running into multiple resistance in the 4-hour timeframe. How price reacts to these levels will have a big effect on the direction the Ethereum price will trade to in the coming days.

Ascending Channel Pattern

The first resistance we are watching is the ascending channel pattern. This pattern is currently forming in the ETH 4-hour timeframe and has been holding the ETH price in a range for the past few weeks now.

This pattern offers us key levels to watch and right now the Ethereum price is trading around one of them.

ETH Running Into Multiple Resistance! Can The Bulls Break Out?
ETH price still trading within an ascending channel pattern playing out in the 4-hour timeframe. Can The Bulls Break Out?

For the ETH bullish rally to continue, the Ethereum price needs to break and close above this 4-hour resistance. A bullish break like this would be the confirmation we need for a potential 15% price rally back up.

The $3,568 Horizontal Resistance

Watch this key horizontal resistance playing out in the 4-hour timeframe. Can the bulls breakthrough?

The second key resistance we are watching is the $3,568 horizontal resistance in the 4-hour timeframe. The last time the ETH price got to this price level, we saw a solid wall of sellers push the altcoin price back down!

Ethereum is already testing this horizontal resistance again. Can the bulls break through this wall of sellers now or should we expect another dump?

Watch this key horizontal resistance playing out in the 4-hour timeframe. Can the bulls breakthrough?

Final Verdict!

For the Ethereum bullish rally to continue, the ETH price needs to break above both the Ascending Channel Pattern and the $3,568 Horizontal Support in the 4-hour timeframe!

However, if Ethereum fails to break through these levels in the coming days, there is a very high probability that we might see another ETH sell-off back down.

ETH Running Into Multiple Resistance in the 4-hour timeframe! Can The Bulls Break Out?
ETH Running Into Multiple Resistance in the 4-hour timeframe! Can The Bulls Break Out?

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