Ethereum Selling As Predicted! Watch These Key Levels

6:12 pm, Fri, 29 April 22

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Ethereum bearish prediction from a previous analysis Ethereum Getting Ready For A New Move Lower! Watch This Pattern

In our previous Ethereum analysis Ethereum Getting Ready For A New Move Lower! Watch This Pattern, we warned our readers about the Bearish Flag Pattern that was forming during the 15 minutes timeframe and how it could be the cause of another round of ETH sellers coming back into the market.

Well, that bearish prediction is playing out exactly as we speak. The Ethereum price is down more than -4% today alone, and it is dragging most Altcoin markets down with it.

Ethereum Selling As Predicted! Watch These Key Levels coming up right now!

In this Ethereum analysis, we will be talking about the key support levels we are currently watching for the ETH price to likely find support in the coming days.

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Ethereum Key Support Levels To Watch For!

We are currently watching two key support levels on the Ethereum price chart. We believe that the Altcoin price has a very high likelihood to see buying pressure coming back into the market at one of these key levels.

1) The $2,781 Lows

Ethereum Selling As Predicted! Watch These Key Levels
Ethereum Selling As Predicted! Watch this $2,781 key support on the 15 minutes timeframe. Can the ETH bears breakthrough it?

This is a 15 minutes key support. Hence it is not that strong, but we believe that it could play a major role in the coming days.

For Ethereum to continue its bearish trend lower, the Altcoin will have to break through this $2,781 key support in the 15 minutes timeframe.

A failure to break through it might just see us bounce and begin to rally back up in the coming days. So we will be keeping a close eye on this level as Ethereum approaches it.

2) The Channel Base Support!

Ethereum Selling As Predicted! Watch These Key Levels
Ethereum Selling As Predicted! Watch These larger channel pattern Ethereum has been trading in on the 4-hour timeframe

The second key level we will be keeping a close eye on is the much stronger base support from the Larger Channel Pattern Ethereum has been trading in on the 4-hour timeframe.

This base support has served as a massive key level for the bulls on numerous occasions and we believe it might continue to do so if the Ethereum price does get to this low in the coming days.

So this will be the second support we will be watching for this Ethereum move lower. It is much stronger than the first one and therefore holds more significance.

Ethereum Selling As Predicted! Watch These Key Levels
Ethereum Selling As Predicted! Watch channel support on the 4-hour timeframe

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