Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels

4:16 pm, Mon, 3 January 22

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Ethereum price prediction from a previous analysis Ethereum Key Support Holding Strong. Watch This New Pattern Forming!

In our previous Ethereum analysis Ethereum Key Support Holding Strong. Watch This New Pattern Forming! we talked about the flag pattern currently playing out on the 1-hour timeframe.

This pattern if it plays out is a clear indication of a coming sell-off for the Ethereum Altcoin. And in this ETH analysis, we will be going further in-depth about this key pattern forming on the 1-hour timeframe and what we expect might happen to the ETH price in the coming days.

To trade Ethereum with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Ethereum Ranging Market Continues!

Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels
Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels on the 1-hour timeframe

The Ethereum flag pattern is still in full play on the ETH 1-hour timeframe. The Altcoin price is currently ranging within the two channels that make up the bearish pattern.

But once this range period is over, we expect to see Ethereum sell-off rapidly in the coming days. The key levels to watch are the channels, as far as Ethereum continues to trade within these channels, we can expect to see the price continue to range sideways in the coming days.

Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels
Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels on the 1-hour timeframe

Ethereum Bearish Confirmation!

There are two bearish confirmation regions we are currently watching on the 1-hour timeframe.

  • The break of the Flag Pattern Base Channel
  • The break of the $3,623 horizontal support.

Break Of The Flag Pattern Base Channel!

Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels
Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels. Ethereum bearish prediction on the 1-hour timeframe

This is a more risky entry for a potential sell-off for Ethereum. This involves waiting for the Altcoin to break through and close below the base channel of the flag pattern.

A break of this ascending support indicates an end to the Ethereum ranging market and a potential sell-off in the coming days. However this entry is still a bit risky as there is still a potential for price manipulations around this region. Continue reading for a more conservative entry.

Break of The $3,623 Horizontal Support!

A more conservative entry for the Ethereum potential sell-off is a break below the $3,623 key support on the 1-hour timeframe.

Waiting for this bearish confirmation is more secured with a higher probability of following through. However, you will be giving some parts of the profits in return for the higher confirmation rate.

Ethereum Flag Pattern Playing Out As Predicted! Watch These Key Levels on the 1-hour timeframe

A break below this $3,623 support is the perfect indication we need to confirm the start of the sell-off for the bearish flag pattern currently forming on the ETH 1-hour timeframe.

Claim up to $30,030 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: