Must Read: ETH Bearish Prediction! Watch these levels

10:02 pm, Sun, 12 September 21

Current Bitcoin Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
End of day trading result for the top 36 cryptocurrencies by market capitalization

The crypto market ended the trading day bullish, rallying exactly as we predicted in a previous ETH analysis The ETH Rally Has Started! Watch These Bullish Price Targets

However, this bullish rally might be over soon! The Ethereum price is currently trading around a key horizontal resistance in the 15 minutes timeframe. If this resistance continues to hold, there is a very high probability that we might see a price sell-off soon!

ETH Bearish Prediction! Watch these levels
ETH Bearish Prediction! Watch these levels playing out in the 4-hour timeframe

In this Ethereum analysis, we will be talking about the $3,568 horizontal resistance and the bearish targets that might be coming into play soon.

To trade ETH with leverage, sign-up to Bybit right now! You can also get up to $600 in deposit bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $600 in Bonus

100x Leverage

ETH Testing Key Resistance! What Next?

ETH Bearish Prediction! Watch these levels
ETH testing key resistance in the 4-hour timeframe. What next?

The Ethereum price is currently trading below the $3,568 horizontal resistance in the 4-hour timeframe.

This resistance is a critical point for the Ethereum bulls as a break above it could see us surging back towards the ATHs in the coming days. But if Ethereum continues to trade below this resistance, we might see more weakness and bearish price action play for Ethereum.

ETH Bearish Prediction! Watch these levels
ETH Bearish Prediction! Watch these levels playing out in the 4-hour timeframe

Bearish Targets For Ethereum

We are watching two key supports right now in the ETH 4-hour timeframe. There is a very high probability that we might see bullish momentum come back into the Ethereum market at one of these levels.

The ETH Ascending Channel Support

The first bearish target we are watching is the support level of the ascending channel pattern currently playing out in the 4-hour timeframe. We have seen the Ethereum price test this support on numerous occasions and might do so again in the coming days.

ETH Bearish Prediction! Watch these levels
Ethereum bearish prediction watch this support of the ascending channel pattern forming in the 4-hour timeframe

If this support region holds, we can expect to see the Ethereum price test and bounce from this region in the coming days. However, if the price breaks below this ascending channel support in the 4-hour timeframe, the next key support to watch is the $2,921 horizontal resistance.

The $2,921 Horizonta Support

The second support region we are watching is the $2,921 horizontal price level. This level is a critical level for the Ethereum price. A price break below this support level could spell doom for the Ethereum price.

ETH Bearish Prediction! Watch this horizontal support level in the 4-hour timeframe

This makes it very important for the Ethereum bulls to defend this support at all costs!

Final Verdict!

While ETH might be selling off as we speak, we are still very bullish on the Altcoin and believe there is still a very high probability that we might see a bullish rally in the coming days.

But for this to happen, Ethereum needs to continue trading above the $2,921 horizontal support in the 4-hour timeframe. A break below this support could spell doom for Ethereum!

ETH Bearish Prediction! Watch these levels
ETH Bearish Prediction! Watch these levels in the 4-hour timeframe

Claim up to $600 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.

PrimeXBT Covesting: Trade Hassel Free

Sign-up on PrimeXBT today to trade Bitcoin hassle-free. You can copy experienced traders and access hundreds of different strategies on the platform! Don’t forget to claim your 50% bonus by using the promo code “bitcoinsensus50” when you sign-up with our link  PrimeXBT Covesting

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

Rating: 94%

Claim up to $600 in Bonus

100x Leverage

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

Rating: 89%

Claim up to $112 in Bonus

100x Leverage

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

Rating: 91%

Get 50% Deposit Bonus

100x Leverage

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