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In our previous Ethereum analysis Urgent! ETH Just Broke Through This Key Level. What Now? we identified the $1,800 key support zone as the most important price level the ETH bulls must defend at all costs if they want to see this push higher continue.
Well, that key support is still holding strong, and right now the Ethereum price has seen more bullish momentum come into the market as more buyers are stepping in to take advantage of this price pump.
In this Ethereum analysis, we will be talking about the new resistance level the ETH price has pushed up to in the 4-hour timeframe and what we are expecting to see in the coming days.
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ETH Testing This $1,933 Key Resistance!
The Ethereum bullish price rally has pushed the Altcoin price to a key resistance level in the 4-hour timeframe.
We have seen the Ethereum price respect this level over and over again in the past, meaning there is a very high probability that we see the Altcoin price react to it in the coming days.
This $1,933 price level is the first resistance the ETH bulls have to break through if they want to keep on pushing the Altcoin price higher in the coming days.
What Does This $1,933 Resistance Mean For The ETH Bulls?
This $1,933 key resistance in no way means that the ETH bullish rally is over! For that to happen, we need to see the ETH price break back below the $1,800 key support zone in the 4-hour timeframe.
As far as the ETH price continues to trade above this $1,800 key support zone, there is a very high probability that we might see more push to the upside in the coming days.
This $1,933 new resistance we are talking about in this TA is just a minor level that might just slow down this ETH bullish rally for a while as cools down a bit before resuming the move higher.
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