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In our previous Ethereum analysis, ETH Failed To Break This Key Resistance Again! What Now? we talked about the bullish scenario for Ethereum and the key resistance the ETH bulls have to break through for this bullish rally to continue.
Well, since publishing that TA, the ETH price has continued to struggle with this 4-hour key level, and in the coming days, we expect to see the ETH price finally break through it.
However, for this ETH analysis, we will be talking about the invalidation point for this bullish bias on Ethereum and the most important key support the ETH bulls are scrambling to protect at all costs!
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ETH $1,830 Key Support!
The ETH $1,830 price level previously served as a key resistance against the ETH bullish rally before the ETH price finally broke through it last week.
Now, this same $1,830 key level is currently serving as support for the Altcoin. And if the bulls want this bullish bias on Ethereum to remain valid, we need to see the Altcoin price continue to respect and trade above this key support in the coming days.
If the bulls can keep the ETH price above this $1,830 key support, there is a very high probability that we might see a bullish breakout and continuation in Ethereum in the coming days.
Final Verdict!
We are still very bullish on the Ethereum price and believe the Altcoin still has a lot of room to move to the upside in the coming days.
However, this bullish prediction/bias on Ethereum can only remain valid if the bulls can manage to keep the Altcoin price above the $1,830 key support in the 4-hour timeframe.
If the ETH price breaks below this key support, there is a very high probability that we might see the Altcoin sell off hard!
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