Ethereum Testing This Key Support! What Next?

5:29 pm, Thu, 17 June 21

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Ethereum Testing This Key Support! What Next?
Ethereum Testing This Key Support! Is this a bullish or bearish sign?

In our previous Ethereum analysis Ethereum Getting Ready For A Massive Move! Watch These Levels, we talked about the converging triangle pattern forming on the Ethereum 4 hour timeframe.

That pattern is holding strong but Ethereum is currently testing the base of this channel.

Claim up to $7000 in Bonus

100x Leverage

Is It Time To Sell?

Ethereum Testing This Key Support! What Next?
Ethereum Testing This Key Support! Is it time to sell? Watch these levels

Ethereum is currently testing the base of the converging triangle pattern, if this support holds strong (like it has been doing) we can expect to see Ethereum bounce and rally back up to the converging top channel.

However, if Ethereum breaks through this support there is a very high probability that the sell-off in Ethereum will resume. The key level to watch for on the Ethereum price chart is the $2,262 price level.

Ethereum Testing This Key Support! What Next?
Ethereum Testing This Key Support! Is it time to sell? Watch these levels

This horizontal support is the key level to watch, a price break below this support confirms the start of the Ethereum sell-off.

Point Of Invalidation!

Key level to watch on the Ethereum 4-hour timeframe. A break above this resistance could signify the end of the Ethereum sell-off and the resumption of the bull trend

The $2,935 resistance is the key level we are watching the Ethereum bears hold. As far as the price continues to trade below this resistance, we are going to remain bearish on the Ethereum price.

However, a break above the $2,935 resistance signifies the end of the Ethereum sell-off and the resumption of the bullish trend. But until this happens, Ethereum has a very high probability of selling off in the coming days.

Claim up to $7000 in Bonus

100x Leverage

Easy Steps From Beginner To Pro Crypto Trader

You can speed up your learning journey by reading our How To Trade Bitcoin Guide. This guide is the best for crypto traders who wants to get familiar with the basics of Bitcoin trading. You can also check out our top list of Best Bitcoin Exchanges To Trade With.

Recommended Bitcoin Trading Platforms:
★★★★★
★★★★★

Rating: 94%

Claim up to $30,030 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 89%

Claim up to $4100 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.075%
Maker:
-0.025%
Wire:
Credit:
Crypto:
★★★★★
★★★★★

Rating: 91%

Claim up to $7000 in Bonus

100x Leverage

Fees:
Deposit Methods:
Taker:
0.050%
Maker:
0.050%
Wire:
Credit:
Crypto: