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Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching

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Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching in the 15 minutes timeframe
Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching in the 15 minutes timeframe

After selling off massively all through last week, the Ethereum bearish trend has finally hit a pocket of support in the 15 minutes timeframe. This support region has seen an influx of buyers coming into the market to stop the coin from bleeding further to the downside. But will it be enough?

What we are witnessing play out in real-time on the Ethereum 15 minutes timeframe is a battle between the bulls and the bears to see who will win control of the ETH market for this week.

This battle is already forming a distinct pattern we can clearly identify in the 15 minutes timeframe. In this Ethereum analysis, will be breaking down this Channel Pattern, what it means for Ethereum, and the possible price scenarios we can expect in the coming days.

Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching in the 15 minutes timeframe
Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching in the 15 minutes timeframe

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Ethereum In A Ranging Market

The Ethereum price is currently in a ranging market. And this ranging market/sideways trading is what is currently forming this Channel Pattern playing out in the 15 minutes timeframe.

This pattern offers us key support and resistance levels to watch for and in the coming days, we will be expecting to see the ETH price either break above or below this key pattern.

Whatever direction the Ethereum price decides to break has a higher likelihood of being the direction the ETH trend will take for the rest of this week.

Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching in the 15 minutes timeframe
Ethereum Trend For The Week Still Undecided! Here Are The Levels You Should Be Watching in the 15 minutes timeframe

Possible Price Scenarios For Ethereum

There are two possible price scenarios available for the Ethereum price to take. A break out to the upside and a bullish pump up or a breakdown below the channel pattern and a bearish continuation lower.

In the coming days, we will be keeping a close eye on this Channel pattern currently playing out in the 15 minutes to see what direction the Ethereum price will decide to break out to.

But for now, we will stand aside and wait for the Ethereum-ranging market to continue developing.

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