Ethereum Price Prediction Daily (2-Feb): ETH Price Exploding! Rally To $1,848 Next?

6:19 pm, Thu, 2 February 23

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Ethereum triangle pattern forming in the 4-hour timeframe

For weeks now, we have been tracking the Triangle Pattern that has been forming in the ETH 4-hour timeframe. This pattern indicated there was a very high probability that we might see a bullish rally in price in the coming days.

And today, we have finally seen the Ethereum breakout of this Triangle Pattern and begin to head higher.

In our previous analysis ETH $1,632 Minor Resistance Holding As Predicted! What Now? we were expecting to see one more leg down in price before this bullish rally began. However, we saw fundamentals shift for the U.S. dollar, causing the ETH rally to start immediately.

In this ETH analysis, we will be talking about this bullish breakout from the Triangle Pattern, the key levels we are currently watching, and what we expect to see happen in the coming days.

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ETH Triangle Breaking Out!

ETH Price Exploding! Rally To $1,848 Next? Watch this bullish prediction in the 4-hour timeframe
ETH Price Exploding! Rally To $1,848 Next? Watch this bullish prediction in the 4-hour timeframe

By breaking out of the Triangle Pattern, we now have our bullish confirmation that the Ethereum rally higher as resumed. And in the coming days, we expect to see this push-up continue as we approach our bullish target of $1,848.

This is a potential +10% rally in the ETH price and we expect to see it play out in the coming days/weeks.

The image below is what a completed triangle pattern looks like, and we expect to see a similar price action play out in the Ethereum price.

So for now, we are bullish on Ethereum and will remain bullish on the Altcoin price as far as this key pattern in the 4-hour timeframe remains valid.

Final Verdict!

We are seeing a massive increase in the Ethereum volatility as more buyers are rushing into the market and pushing the Altcoin price higher.

We are currently bullish on Ethereum and we believe there is a very high probability for us to see a +10% surge in the value soon.

The Triangle Pattern is the key pattern that supports this bullish bias on Ethereum. And if this pattern plays out exactly, we might see Altcoin reach the $1,848 price level in the coming days.

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