The Ethereum price today bounced at the 15 minutes previous lows of $1,070. This bounce has caused a lot of traders to believe we might be expecting a Double Bottom Pattern in the coming days.

The image below is a simple example of what a completed Double Bottom Pattern looks like.

However, we believe the Ethereum is still bearish and the sell-off might not be over just yet! In this ETH analysis, we will be breaking down the exact pattern we are currently watching to support this bearish bias as well as the key levels we are keeping a close eye on in the coming days!

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Why We Believe Ethereum Might Still Be Bearish!

The key pattern we are watching is the Triangle pattern forming in the 15 minutes timeframe. We have been tracking this pattern for a while and just recently the ETH price broke and closed below it, indicating there is a very high possibility for us to push lower.

However the bearish target for this Triangle Pattern is still yet to be smashed and we believe as time goes on, Ethereum would continue to push lower to this $979 price level.

Key Levels To Watch!

This bearish prediction and triangle pattern will remain valid as far as the Altcoin price continues to trade below the $1,235 key resistance in the 15 minutes timeframe.

If this level gets respected, then we expect to see more sellers over time step in and push Ethereum much lower, invalidating this potential Double Bottom Pattern everyone is currently worried about.

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