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The Ethereum price is up more than 7% in just today’s trading alone. This price surge came as a result of the Ethereum price testing a key support region yesterday and then bouncing from it.
We talked in-depth about that key support region and the price scenarios to expect from the ETH price in our previous TA Ethereum Price Testing Multiple Support! What Now? and right now, we are seeing it play out!
In this ETH analysis, we will be talking about the potential for us to see a bullish continuation of this Ethereum price surge in the coming days.
We will be breaking down the kill levels we are watching as well as the best price scenarios to expect in the coming days.
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Understanding The Bigger Picture!
The bigger picture for Ethereum is the price has been trading within a larger Ending Diagonal Pattern for the last few weeks now. And what we need for this pattern to get completed is the last leg move up back to the resistance channel of the Ending Diagonal Pattern
This last leg move up is what we have been seeing play out. But the price is still not at our target of the Channel Resistance for the Ending Diagonal Pattern.
So in the coming days, we will be expecting to see a price bounce and a bullish continuation of this price surge we saw play out in Ethereum.
Key Levels To Watch
The key level to watch is the $1,787 previous resistance now turned support! We want to see this $1,787 key level hold for that bullish continuation in Ethereum to play out.
So in the coming days, we will be keeping a close eye on this $1,787 key level in the 1-hour timeframe to see how the Ethereum price reacts with it.
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