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The crypto market ended the day bullish as the prices of both Bitcoin and Ethereum surged higher throughout the trading sessions.
Ethereum led the way with a 10% gain, ending the ranging market we have been seeing play out in the ETH market for the past few weeks. This ranging market was caused by the Ascending Channel Pattern that formed in the 15 minutes timeframe.
However, this pattern was eventually broken today, putting an end to this ranging market in Ethereum and opening the way for more bullish rallies in the coming days.
This breakout also opened up the way for the Ethereum price to rally back to its all-time highs soon! Exactly as we predicted in Must Read: Ethereum Testing Key Level. Price Rally Soon!
In this Ethereum analysis, we will be talking about our bullish targets as well as key levels we are keeping a close eye on for the coming days.
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Ethereum To ATHs!
The Ethereum price is currently trading above the ascending channel pattern and creeping higher every second. This slow push higher is expected to continue throughout this week as the Ethereum price heads back to its ATHs!
There is no major resistance to stop this bullish rally from playing out, so there is a very high probability that we might see Ethereum continue to trend higher in the coming days.
How it plays out may vary. It might decide to continue rallying higher without pausing at all or it could decide to pull back to gather more momentum before pushing higher.
No matter what form the price takes, the key level to watch is the ascending channel pattern in the 15 minutes timeframe. It is important for the Ethereum price to continue trading above this ascending channel resistance for us to remain bullish.
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