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The Ethereum price is currently trading within an ascending channel pattern on the 1-hour timeframe. This ascending channel pattern offers us key levels to watch for the Ethereum price to range in.
And in this Ethereum analysis, we will be talking about this key pattern and what we believe might play out in the coming days.
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Ethereum Key Levels!
The Ethereum price is currently trading within two ascending channels on the 1-hour timeframe. And right now, Ethereum is testing the base of that channel.
If this key support holds, there is a very high probability that we might see the Ethereum price repeats what it has done before in the past by finding support on this ascending channel and rallying higher in the coming days.
Ethereum Bullish Prediction!
For the Ethereum bullish prediction, we want to see the ETH bulls hold the base channel of this ascending channel pattern currently playing out on the 1-hour timeframe.
If this key support holds, we can expect to see Ethereum rally higher very soon! This bullish rally could push the ETH price back up to the top region of the ascending channel pattern in the coming days.
Final Verdict!
Ethereum is currently testing key support on the 1-hour timeframe, can the ETH bulls hold on to this key level or will we just see the Ethereum price breakthrough and keep selling off in the coming days?
If this key support holds, there is a very high probability that we might see the Ethereum rally soon! And the key pattern to watch is the Ethereum ascending channel pattern currently playing out on the 1-hour timeframe.
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