Ethereum Approaching This Major Support! What Next?

9:36 am, Sat, 27 August 22

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Ethereum price prediction from a previous analysis Ethereum Rally Continues For The 3rd day! But Watch This Larger Bearish Pattern

In a previous Ethereum analysis, Ethereum Rally Continues For The 3rd day! But Watch This Larger Bearish Pattern, we warned our readers of a massive bearish pattern forming in the 4-hour timeframe and how this pattern could indicate a potential sell-off for the Ethereum price sooner or later.

Well, that sell-off is what we are seeing play out right now in the Ethereum price chart. The question traders are now asking is how low can we expect to see this price move lower get in the coming days?

Ethereum bearish prediction playing out exactly as predicted! What next?

In this Ethereum analysis, we will be breaking down the major support the Ethereum price is currently approaching and why we believe we might see a price bounce from this region in the coming days.

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Ethereum Approaching This Major Support!

Ethereum Approaching This Major Support! What Next? Watch this key support in the 4-hour timeframe
Ethereum Approaching This Major Support! What Next? Watch this key support in the 4-hour timeframe

The next major support we are watching right now in the Ethereum 4-hour timeframe is the $1,343 key support. This major support is the only level currently standing in the way of Ethereum and any further move to the downside.

The question traders are asking now is “will this $1,343 key support hold or will we see the Ethereum bears break through and keep on powering their way to the downside in the coming weeks?

Ethereum Approaching This Major Support! What Next? Watch this key support in the 4-hour timeframe
Ethereum Approaching This Major Support! What Next? Watch this key support in the 4-hour timeframe

What Ethereum Must Do To Stop The Sell-Off!

For this Ethereum sell-off to be stopped, the ETH bulls must hold and defend this $1,343 key support in the 4-hour timeframe.

If this $1,343 key level holds, there is a very high probability that we might see a price bounce and a rally back up in the coming days. This rally would indicate the end of this price sell-off and a potential move to new highs in the coming weeks.

Ethereum Approaching This Major Support! What Next? Watch this key support in the 4-hour timeframe
Ethereum Approaching This Major Support! What Next? Watch this key support in the 4-hour timeframe

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