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The crypto market ended the trading day very bullish as the price of both Bitcoin and Ethereum rallied higher all through today. This bullish rally comes after weeks of sideways trading, fake breakouts, and weak momentum in the crypto market.
But this ranging market might just be over. Ethereum is currently testing a key resistance in the 15 minutes timeframe. A break out of price above this resistance gives us a clear indication that Ethereum might rally to ATHs soon!
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ETH $3,997 Resistance!
The ETH price is currently trading around the $3,997 key resistance region in the 15 minutes timeframe. The last time the Ethereum price got to this region we saw a massive sell-off.
The big question now is will this ETH sell-off from the $3,997 price region repeat itself again in the coming days?
Ethereum Bullish Prediction!
For the Ethereum bullish prediction, we want to see the price rally and break above this key resistance in the 15 minutes timeframe.
A bullish break like this confirms our bullish bias and opens up the way for Etthereum to rally back to its ATHs soon!
Final Verdict!
We are still very bullish on Ethereum, and we believe there is a very high probability for the Altcoin price to continue to rally into next week.
However, for this bullish prediction and bias in Ethereum to remain valid, the price needs to break above the $3,997 horizontal resistance in the 15 minutes timeframe.
For More Trading Ideas
For more trading ideas, check out our recent Youtube live stream. Here, we break down the patterns, key levels, and price predictions for the top-performing coins in the cryptomarket.
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