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In our previous ETH analysis Must Read Ethereum To $4k! Watch This Flag Pattern, we talked about the flag pattern currently forming in the Ethereum 4-hour timeframe. This pattern offers us key levels to watch and right now, the Ethereum price is breaking one of these levels to the upside.
This bullish move is a perfect confirmation for us, pointing at the growing momentum currently driving the Ethereum price higher in value. If this bullish momentum continues to hold, there is a very high probability that we might see the ETH price continue to rally higher towards the $4k bullish target in the coming.
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ETH Key Levels To Watch!
The key support level we are currently watching is the base channel of the flag pattern in the 4-hour timeframe. As far as Ethereum continues to trade above this key support, there is a very high probability that we might continue to see bullish momentum enter and push the ETH price higher in the coming days.
This makes the $3,403 price level the line in the sand for the Ethereum bulls. A break below this critical level could spell doom for this Ethereum bullish rally.
But as far as this $3,403 key support holds in the 1-hour timeframe, we will remain very bullish on Ethereum and expect to see the rally to $4k play out in the coming days.
Final Verdict!
The Ethereum bulls are in full control of the market, and there is a very high probability that we might see this current bullish rally in the Altcoin price continue into the coming days.
The pattern we are watching is the Flag pattern in the 1-hour timeframe. And right now the Ethereum price is breaking above this pattern pointing to a very likely rally up to $4k price regions in the coming days.
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