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In our previous Ethereum analysis, ETH Price Exploding! Rally To $1,848 Next? we went into depth about the Triangle Pattern currently forming in the 4-hour timeframe and how this was a great indication of a bullish rally that could take the ETH price up more than +10% in the coming days.
Well, that bullish prediction is still playing out exactly as we predicted! And right now we are seeing the Altcoin price accelerate to the upside, confirming this bullish bias on Ethereum!
In this ETH analysis, we will be giving you an update on what the price is currently doing and what we expect next in the coming days.
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ETH Bullish Prediction! How Is It Going?
The Ethereum market is currently being driven by a lot of fundamentals currently playing out in the global market.
We are currently in earning seasons and we are seeing the correlation between the crypto market and the stock market favor crypto pairs across the board.
Right now, Ethereum is rallying higher and we are seeing more bullish volume come into the market. We expect this bullish rally to keep on pushing the ETH price higher in the coming days with our bullish target being the $1,848 price level.
If the Ethereum price can get to this bullish target, this would be a completion of the Triangle Pattern we are currently tracking in the 4-hour timeframe and the flurry of good news coming out as companies continue to beat estimated earnings reports in the stock market.
What Should You Be Watching Out For?
Well, for now, the key pattern we are watching out for is the Triangle Pattern in the 4-hour timeframe. This pattern is what is confirming our bullish bias on Ethereum and we believe the Altcoin price is currently showing signs of a bullish surge to come.
So for now, we are bullish on Ethereum and will remain bullish on the Altcoin as far as this key Triangle Pattern remains valid in the 4-hour timeframe.
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