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The Ethereum price has been trading sideways all week! This range market is caused by the ascending channel pattern the Ethereum price is currently trading around in the 4-hour timeframe.
If this key resistance continues to hold, there is a very high probability that we might see a sell-off in the Ethereum price in the coming days. And right now we can pinpoint the exact time that sell-off might start with some accuracy.
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Ethereum Converging Pattern!
The Ethereum ranging price is currently forming a converging pattern in the lower timeframe. This 1-hour pattern offers us key levels to watch for in the coming days.
ETH Bullish Prediction!
For the Bullish prediction, we want to see the Ethereum price breakthrough and continue rallying higher. A break of this converging pattern is very positive for Ethereum and supports our bullish bias in the ETH price.
But for this bullish prediction to remain valid. We need to see the price of the Altcoin continue to trade above the base of the converging pattern
ETH Bearish Prediction!
For the ETH bearish prediction, we want to see the base of the ascending channel pattern give way. A price break and close below this converging pattern support could see us selling off massively in the coming days.
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