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The Ethereum price has finally broken through the converging triangle pattern we have been tracking for weeks now on the ETH 1-hour timeframe Ethereum Ready To Explode! Watch This Key Pattern.
This bullish breakout indicates the end of the Ethereum sideways market and the resumption of the bullish move higher. And the main target we are watching for in the coming days is the $4,484 price level.
This price level is the standard target for the converging triangle pattern and there is a very high probability that it might play out in the coming days.
In this Ethereum analysis, we will be talking about the most important key support the Ethereum bulls must hold for this bullish prediction to remain valid.
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Ethereum Key Support!
The most important level for the Ethereum bulls right now is the $3,875 price level. This horizontal support must remain respected if this converging triangle breakout we are currently witnessing is to remain valid.
A price break below this $3,875 key support invalidates the bullish rally currently playing out and points to a potential sell-off in the coming days. This makes the $3,875 key support the most important level for Ethereum right now!
Final Verdict!
The Ethereum bullish rally is far from over! However, for this bullish prediction to remain valid, the Ethereum price must continue to respect and trade above the $3,875 key support.
This is the most important support for the Ethereum bulls right now and must be defended at all costs. As far as this level holds, we can expect to see the ETH price continue to rally high in the coming days.
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