In our previous analysis, Ethereum Triangle Pattern Playing Out As Predicted! What Next? we talked about the key resistance channel holding the Ethereum price back in the 15 minutes timeframe!
This resistance was from the larger converging triangle pattern the Ethereum has been trading in for the past week now.
However, that sell-off might be over as the ETH price is currently testing the base channel of the pattern and getting ready to explode higher in the coming days!
In this Ethereum analysis, we will be talking about the bullish targets we are watching as well as the key levels that might come up soon!
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Ethereum Bullish Prediction!
The Ethereum price is currently testing the base channel of the converging triangle pattern in the 15 minutes timeframe. Every time the price has tested this key support, we have seen a violent push back-up follow.
If history repeats itself, we can expect to see that push-up occur soon for the Ethereum price! But how high can we expect this price rally to go?
Ethereum Key Level
The first key level is the resistance channel of the converging triangle pattern. There is a very high probability that Ethereum might rally back to this region before encountering resistance again.
If the ETH price fails to break through this 15 minutes key level, then the Ethereum rally is yet to resume and there is a very high probability that we might continue trading ranging market!
However, if Ethereum breaks through this key level we might see the price rally massively in the coming days!
The Ethereum price is still indecisive and in a ranging market. The Bullish trend can only resume once the ETH price breaks through the resistance channel of the converging triangle pattern in the 15 minutes timeframe.
Until this happens, we will be standing aside and potentially waiting for the ETH price to make a move.
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