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In our previous Ethereum analysis Ethereum To ATHs Soon! Watch This Resistance, we talked about the $3,998 horizontal resistance in the 15 minutes timeframe.
This horizontal price level has kept on holding strong, pushing the Ethereum price into a range market between the $3,998 horizontal resistance and the $3,841 bullish support region in the 15 minutes timeframe.
However, Ethereum is still very bullish and in this ETH analysis, we will be talking about the key levels we are watching as well as our bullish bias for Ethereum in the coming days.
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The Ethereum Ranging Market
The Ethereum price is trading in a range between two key levels in the 15 minutes timeframe. And as far as the price continues to trade between this $3,998 horizontal resistance and the $3,841 bullish support, we can expect to see Ethereum continue to range.
However, a price break above this $3,998 horizontal resistance would indicate the end of the ranging market and the resumption of the bullish trend in Ethereum.
This makes the $3,998 resistance one of the most important resistance we are currently watching in the Ethereum price chart.
Final Verdict!
Ethereum is still very bullish and will remain bullish as far as the Ethereum price continues to trade above the $3,841 support. However, for the bullish trend to continue, the price needs to break through the $3,998 horizontal resistance in the 15 minutes timeframe.
Until this bullish break-out occurs, we can expect to see the Ethereum price continue to range and trade sideways in the coming days.
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