Ethereum Breaking Out As Predicted! Watch These Key Levels

4:37 pm, Mon, 8 August 22

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Is The Ethereum Rally Over? Watch This Bullish Prediction in the 1-hour timeframe
Ethereum price prediction from a previous analysis Is The Ethereum Rally Over? Watch This Bullish Prediction!

In our previous Ethereum analysis Is The Ethereum Rally Over? Watch This Bullish Prediction! we talked about the $1,787 resistance and also made a bullish prediction for Ethereum.

Well, that bullish prediction is playing out, the Ethereum price has finally broken through the $1,787 key resistance and has increased the chances for us to see a further rally higher in the coming days.

In this Ethereum analysis, we will be breaking down the key levels we are watching as well as the likely price scenarios we might be expecting.

Ethereum Breaking Out As Predicted! Watch These Key Levels in the 1-hour timeframe
Ethereum Breaking Out As Predicted! Watch These Key Levels in the 1-hour timeframe

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Ethereum Bullish Prediction

Ethereum Breaking Out As Predicted! Watch These Key Levels in the 1-hour timeframe
Ethereum Breaking Out As Predicted! Watch These Key Levels in the 1-hour timeframe

By breaking through the $1,787 key resistance, the Ethereum bulls just confirmed they are in control of the price. And in the coming days, there is a very high probability for us to see ETH continue to push higher.

This last push-up for the Ethereum price would be the final leg of the larger Ending Diagonal Pattern the Ethereum price is currently trading in. We believe that the price is still respecting this pattern and we might see it come into play soon.

Ethereum price still trading within the Ending Diagonal Pattern in the 1-hour timeframe

Final Verdict!

We are very bullish on Ethereum and believe there is a very high probability that the Ethereum price will continue to rally higher as the days go.

By breaking through the $1,787 key resistance, the ETH bulls confirmed the direction of the short-term trend for Ethereum. And this bullish trend is what we will be hoping to take advantage of.

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