Ethereum Bearish Target Smashed! What Next? Watch This Key Support

3:17 pm, Fri, 19 August 22

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Ethereum price prediction from a previous analysis Ethereum Forming Multiple Bearish Patterns! Get Ready For A -10% Dump Soon?

Our Ethereum bearish prediction Ethereum Forming Multiple Bearish Patterns! Get Ready For A -10% Dump Soon? as finally played out! The Altcoin has smashed all our bearish targets and is still heading lower.

However, the question traders are asking now is what next should we expect from the Altcoin price in the coming days? And in this ETH analysis, we will be breaking down the key levels we are currently watching as well as the major support the price is trading at right now!

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Ethereum Testing Major Support

Ethereum Bearish Target Smashed! What Next? Watch This Key Support in the 1-hour timeframe
Ethereum Bearish Target Smashed! What Next? Watch This Key Support in the 1-hour timeframe

The Ethereum sell-off has pushed the Altcoin price to a major support level in the 1-hour timeframe. Should we expect to see this support hold and push prices back up in the coming days?

This $1,636 key region has served as both support and resistance previously in the past making it a very important level to expect a reaction from.

So in the coming days, we will be keeping a close eye on this key $1,636 level to see what the Ethereum price will do around it.

Ethereum Bearish Target Smashed! What Next? Watch This Key Support in the 1-hour timeframe
Ethereum Bearish Target Smashed! What Next? Watch This Key Support in the 1-hour timeframe

Final Verdict!

The Ethereum bearish trend has played out exactly as we predicted. However, that sell-off might be coming to an end very soon!

Right now, the ETH price is testing a major level in the 1-hour timeframe. How the price reacts to this $1,636 key level will have a major impact on the direction of the Ethereum trend in the coming days.

So we will be keeping a close eye on this $1,636 price level and keeping you updated as the ETH trend develops. But for right now, we stand aside and wait for a clear path to follow.

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