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The Ethereum price is finally breaking through the ascending channel pattern in the 15 minutes timeframe Ethereum Bulls Running Out Of Steam! Watch This Key Pattern. This bearish price movement confirms our bias and points to an ever-increasing potential for a coming sell-off in the coming days.
In this Ethereum analysis, we will be talking about what we believe might happen next as well as the key levels we are watching right now!
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Ethereum Key levels To Watch!
The most important key resistance we are watching for the Ethereum price is the $4k key level! This price level has served as key resistance for the Ethereum price before and might continue to do so in the coming days.
As far as Ethereum continues to trade below this key resistance, there is a very high probability that we might see the ETH price continue to sell off in the coming days!
Ethereum Bearish Target
Our first bearish target is the $3,731 support level. This 15 minutes horizontal support is the first key level the Ethereum bears might encounter in the coming days.
A break of this key support level in the 15 minutes timeframe could see us trending even lower in the Ethereum price.
Final Verdict!
The Ethereum sell-off is still in play right now! However, that sell-off might be coming to an end soon! The key level we are watching is the $3,731 horizontal support.
If this 15 minutes support holds, there is a very high probability for us to see a price bounce and rally back up in the coming days.
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