Table of Contents
After breaking out of the Triangle Pattern in the 4-hour timeframe, the Ethereum price is now finding it difficult to see much follow through in that bullish rally.
All through Yesterday and Today, we saw little to no movement in the price of Ethereum, instead, the price has continued to range and trade sideways right above that Triangle Pattern in the 4-hour timeframe.
In this Ethereum analysis, we will be breaking down the key levels we are currently watching as well as the likely price scenarios we might see playing out in the coming days.
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What Next For Ethereum?
The most important level to watch for in the Ethereum 4-hour price chart is the $1,278 key level. This $1,278 price level was the previous resistance Ethereum found difficult to break through.
Well now, that resistance has been turned into support for the Ethereum price. So in the coming days, we expect to see a price bounce and bullish continuation rally from this key region.
A bullish bounce from this $1,278 key level will consolidate this level as major support for Ethereum going forward.
Final Verdict!
The Ethereum price is consolidating and gathering momentum after breaking through a major level in the 4-hour timeframe.
In the coming days, we expect to see this consolidation phase come to an end and for the Ethereum bullish rally to continue.
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