The Crypto market closed the trading day very bullish today, with the Ethereum price surging more than 12% in value and leading the massive Altcoin rally we saw play out all through today!
This Ethereum bullish rally confirms our bias in Ethereum as well as confirming the bullish breakout of the Flag pattern we talked about in our previous analysis Must Read: Ethereum Breaking Out Right Now! Has The Bullish Rally Started?
In this Ethereum analysis, we will be talking about the new key levels we are watching as well as our bullish target for the coming days.
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Ethereum Rally Far From Over?
The Ethereum price has broken through the 1-hour flag pattern surging higher just as we predicted. However, the Ethereum price is still trading below our $4k price target.
This price level is a major key level in the 1-hour timeframe. The last time Ethereum got to these levels, we saw a massive dump in price follow swiftly.
That makes this $4k resistance region a major level the Ethereum bulls need to keep an eye on in the coming days. But for right now, we can expect the ETH price to keep on rallying higher to this $4k price region.
Final Verdict!
The Ethereum rally is still far from over! There is a very high probability that we might see the Altcoin price continue to rally higher into the coming days.
Our bullish target for the Altcoin price is the $4k price region. This price region has served as a major resistance for Ethereum price before and might do so again in the coming days.
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