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The Ethereum bulls are back and there are aggressively pushing the ETH price higher. We talked about this exact bullish scenario in our previous ETH analysis ETH Testing This Major Support! Will It Hold?
In this Ethereum analysis, we will be giving you a follow-up on that price prediction and talking about the key levels we are currently watching as well as what we believe might happen next in Ethereum.
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ETH Key Levels To Watch Out For!
Now that the bulls are back and they have resumed the push higher in price, we will be talking about the next key level that the ETH price needs to break through if we want to see this Altcoin rally continue in the coming days.
That key level is the $1,928 previous high in the 4-hour timeframe. The last time the Ethereum price got to this level, we saw massive rejection and a sell-off for the Altcoin.
The question now is “What will the price do now once it gets to this $1,928 level again?”
ETH Bullish Scenario!
For the ETH bullish scenario, we want to see this $1,928 previous highs give way! If the bulls can break through this key resistance, there is a very high probability that we might see this ETH bullish run continue higher, possibly pushing the Altcoin up to the $2,074 price level in the coming days.
Final Verdict!
We are still very bullish on Ethereum and believe the Altcoin price still has a lot of room to move to the upside in the coming days.
However, for this bullish prediction to remain valid, we need to see the ETH price break and close above the $1,928 previous highs.
The last time Ethereum got to this high, we saw a massive rejection and sell-off occur, the question now is will the same thing happen again, or is Ethereum finally ready to break through this key region?
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