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.
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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.
Final Verdict!
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.
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