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The Ethereum price is currently ranging within the $4k key support region in the 4-hour timeframe. This support region spans from the $4,000 price level to the $4,400 previous ATHs for Ethereum.
As far as the Ethereum price continues to trade inside this support region, there is a very high probability that we might see the Altcoin price begin to range in the coming days!
In this Ethereum analysis, we will be talking about the most important key levels to watch as well as our bullish bias for Ethereum in the coming days.
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Ethereum Key Levels!
The Ethereum price is trading at a critical level right now in the 4-hour timeframe. And the ranging market we are seeing play out is just a strong indication of the Ethereum price-building momentum for a breakout soon!
However, the direction this Ethereum breakout will take, is totally dependent on what key level the Altcoin price breaks through.
Ethereum Bullish Prediction!
For the Ethereum bullish prediction, we want to see the Ethereum price hold and respect the $4k key support level. This is the base level of that key region we are seeing the Ethereum price currently trade within in the 4-hour timeframe.
If this support holds, then there is a very high probability that we might see the Ethereum price begin to rally higher in the coming days.
Ethereum Bearish Prediction!
For the Ethereum bearish prediction, we want to see the Altcoin price respect and hold the $4,400 key resistance in the 4-hour timeframe. This is the top level of that key region we are seeing the Ethereum price currently trade within on the 4-hour timeframe.
If this $4,400 key resistance continues to hold, there is a very high probability that we might begin to see bearish pressure build up in the Ethereum price chart in the coming days.
Final Verdict!
The Ethereum price is currently ranging within a very key support region in the 4-hour timeframe.
We don’t know how long this range might last, but for Ethereum to resume trending either bullish or bearish again, the price of the Altcoin must break through these key levels.
Until that happens, we will stand aside and wait for Ethereum to finally decide on what direction it might start going in the coming days.
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