The Ethereum bulls have been showing a growing amount of strength for the past few weeks now. And with this growing strength comes the potential for us to see a massive rally playout in the coming days.
In this Ethereum analysis, we will be taking a closer look at the bullish patterns currently set up in the 4-hour timeframe as well as the key levels we are keeping a close eye on.
To trade ETH with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Bonus Campaign is now live! You can get up to a $30,000 Bonus when you fund your Bybit account with our Bybit link
Claim up to $30,030 in Bonus
Ethereum Key Pattern!
The initial bullish pattern that is catching our eyes is the Descending Chanel Pattern the Ethereum bulls are attempting to breakout off in the 4-hour timeframe.
This pattern is very important because it is forming after a Double Bottom Pattern that just played out! Making it a combination of multiple bullish signs playing out all at once.
What these two patterns are telling us is “It is time to start watching for more bullish momentum to come into the market soon!“
And if these bullish patterns play out, we can expect to see the Ethereum price getting to the $2,014 previous Highs in the coming weeks.
The Ethereum price has broken through all our previous resistance we noted as “important for the bears to defend” one of those key resistance is the $1,400 key region the Ethereum price has struggled to break for months.
And by breaking through this region, Ethereum has moved into bullish territory, and from now on, we will be looking for only bullish patterns to take advantage of to the upside.
The Double bottom pattern and the Descending Channel Pattern we talked about in this TA are the two bullish patterns we currently see and plan to take advantage of.
Claim up to $30,030 in Bonus
In Other News…
Bybit is going all out this festive season with its list of bonuses, trading competitions, and cash giveaways as the exchange celebrates its 4th-year anniversary.
Register on Bybit, sign up with our link Bybit Sign-Up and Get up to a $30,000 Bonus.
To participate in the Bybit 4th year anniversary $1M lucky draw-spin, click this link and sign-up Bybit Aniversary Trading Competition
Easy Steps From Beginner To Pro Crypto Trader
You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.
PrimeXBT Covesting: Trade Hassel Free
Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 25% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link PrimeXBT Covesting