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The Ethereum bulls are still in full control of the price with the Altcoin getting ready to make the final surge up. This bullish rally plays out well with our previous prediction Ethereum Bullish Prediction Playing Out! What Next? and points to a coming price move towards the $3,500 region soon!
The key level we are watching is the $3,465 horizontal support. This 1-hour minor support can serve as a strong base for the Ethereum price to bounce from before continuing higher.
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Ethereum Key Level
The Ethereum $3,465 minor level has served as both strong resistance and support before and might continue to do so in the coming days. This 1-hour minor support also serves as a key level for the Bitcoin bulls for the short term.
Ethereum Bullish Prediction
For the Ethereum bullish rally to remain valid for the short term, we need to see the ETH price respect and continue to trade above the $3,465 key support in the 1-hour timeframe.
A price break below this support could end the current rally and see us testing the base of the ascending channel pattern price is currently trading in.
Final Verdict!
The Ethereum price is still in a bullish trend with a very high potential to remain this way for the coming days. But for this bullish bias to remain valid the price of the Altcoin must respect and continue to trade above the $3,465 key support in the 1-hour timeframe.
A price break and a close below this support could signify the end of this short-term bull run in Ethereum.
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