Ethereum Bearish Prediction Playing Out Exactly! What Next? Watch This Expanding Channel Pattern

5:33 pm, Tue, 2 August 22

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
Ethereum Just Broke Below This Key Support! Sell Now?
Ethereum price prediction from a previous analysis Ethereum Just Broke Below This Key Support! Sell Now?

The Ethereum triangle breakdown is playing out exactly as predicted in our previous analysis Ethereum Just Broke Below This Key Support! Sell Now?

Right now, the Altcoin price is down more than -7% and is currently forming a new pattern in the 15 minutes timeframe. The new pattern being formed is an Expanding Channel Pattern and in this ETH analysis, we will be breaking down what this pattern means for the Ethereum bears, the key levels we are currently watching as well as the possible price scenarios to expect.

Ethereum Bearish Prediction Playing Out Exactly! What Next? Watch This Expanding Channel Pattern in the 15 minutes timeframe
Ethereum Bearish Prediction Playing Out Exactly! What Next? Watch This Expanding Channel Pattern in the 15 minutes timeframe

To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $4,450 Bonus and up to 30 days of 0% Maker fee when you sign-up and fund your Bybit account with our Bybit link

Claim up to $4450 in Bonus

100x Leverage

Ethereum Expanding Channel Pattern

The Expanding Channel pattern is a key pattern used by professionals to track a ranging market and better understand the structures it is forming. Once this pattern is completed, we expect to see the asset begin to trend again either to the upside or downside.

For Ethereum, that ranging market is still far from over as we see the Altcoin price currently trading within this Expanding Channel pattern forming in the 15 minutes timeframe.

And until the price completes this sideways range, we expect to see the Altcoin continue to bounce in between these two channels that make up the pattern.

Ethereum Bearish Prediction Playing Out Exactly! What Next? Watch This Expanding Channel Pattern in the 15 minutes timeframe
Ethereum Bearish Prediction Playing Out Exactly! What Next? Watch This Expanding Channel Pattern in the 15 minutes timeframe

What Next For Ethereum?

Well, right now we are waiting to see Ethereum complete the ranging phase and then break out of the expending channel pattern in the 15 minutes timeframe.

How price breaks out from this key pattern will be the deciding factor as to what direction we expect the Ethereum trend to take.

If Ethereum breaks to the downside, there is a very high probability that we might see the Ethereum sell-off continue in the coming days. However, if the price breaks to the upside, we might just see a price bounce and reversal in the coming days.

But for now, we still don’t know what direction Ethereum wants to take so we stand aside and wait for our confirmations.

Claim up to $4450 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $4450 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: