The Ethereum price has finally smashed our $1,715 bearish target for this current sell-off. We made this bearish prediction in a previous analysis Warning: Ethereum Could Crash -25% Soon! Watch This Key Level
However, the question traders are asking now is “can we expect to see a price rally back up, or will the ETH bears break through this $1,715 key support and continue on down?”
In this Ethereum analysis, we will be talking in-depth about this $1,715 Ethereum key support in the 4-hour timeframe and what could happen if this key level holds strong.
Ethereum $1,715 Key Support
This ETH $1,715 price level has played a major role in influencing the Ethereum price trend before in the past. And there is a very high probability that this could repeat itself.
In the coming days, we can expect to see more buying pressure come back into the market as the bulls struggle to hold this $1,715 key support and push the prices back up from this region.
A bullish push like this could take us back up to the $2,445 price resistance or even higher in no time.
What Happens If This $1,715 Price Level Fails?
If this $1,715 key support fails, there is a very high probability that we might see the Ethereum price continue to fall to the downside in the coming days.
This makes it very important for the ETH bulls to defend this $1,715 key level in the 4-hour timeframe at all costs. Because Ethereum can only begin to retrace some of those losses it made earlier this week if and only if this $1,715 key support holds.
Claim up to $30,030 in Bonus
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