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In our previous analysis Warning! ETH Bullish Divergence Indicates A Coming Rally! we talked of the very high possibility of an Ethereum price bounce in the coming days. We also talked about the Descending Channel resistance the ETH bulls had to break through from in the 15-minute timeframe.
Well, that breakout has occurred, and we are currently seeing ETH push higher, confirming our bullish bias on the Atcoin.
In this ETH analysis, we will be going a step further and talking about what we believe might be next for Ethereum and the key levels we are currently watching.
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What Now For Ethereum?
By breaking through the 15-minute Descending Channel Resistance, the ETH price has confirmed that it might be ready to resume its move higher in the coming days.
If this bullish prediction plays out exactly, we might see the Altcoin price rally back to the previous highs of $1,923 in the coming days.
This is a potential +50% rally in the value of Ethereum! This confirms our bullish bias on Ethereum and indicates the resumption of the Altcoin’s bullish momentum.
Final Verdict!
We are still very bullish on the ETH price and believe the Altcoin is getting ready to make a massive move up soon!
If this bullish prediction plays out, we might see the ETH price rally more than +50%, pushing the ETH price back to the $1,923 previous high.
As the week goes on, we will be keeping a close eye on this potential move and updating all the way through.
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