Must Read: Ethereum Sell-Off Might Not Last Long! Watch This Key Pattern

7:17 pm, Wed, 29 December 21

Current Ethereum Data

Dominance
Price
Market Cap
Volume (24h)
1h
12h
1d
7d
1m
1y
?
Previous End of day trading result for the top 36 cryptocurrencies for December 28th, 2021.

The crypto market is finally recovering from the massive sell-off we saw play out across the board yesterday on December 28th, 2021! Warning: Crypto Flash Crash! Is The ETH Rally Over?

This sell-off saw major players like Bitcoin and Ethereum make big bearish moves that lasted hours with massive bearish volumes coming into the market. But how long do we expect these moves to last and is Ethereum now bearish?

In this Ethereum analysis, we will be talking about why we believe this ETH sell-off might not last long and what key pattern we are currently watching on the Ethereum 4-hour timeframe.

Ethereum Sell-Off Might Not Last Long! Watch This Key Pattern
Ethereum Sell-Off Might Not Last Long! Watch This Key Pattern forming on the 4-hour timeframe

To trade Ethereum with leverage, sign-up to Bybit right now! Bybit’s BIGGEST Deposit Bonus Campaign is now live! First-time depositors can get up to a $4,100 Bonus when you sign-up and fund your Bybit account with our Bybit link.

Claim up to $30,030 in Bonus

100x Leverage

Ethereum Weak Sell-Off!

Ethereum Sell-Off Might Not Last Long! The bearish move has been very weak and choppy on the 4-hour timeframe. What next?

The Ethereum price sell-off has been weak, slow, and very choppy! This is a clear sign that the ETH bears are struggling to cover grounds and the move lower might not last long!

This bearish move is also contained within parallel lines that formes a Descending Channel Pattern on the 4-hour timeframe, giving us a clear picture of what exactly the ETH price might be doing and the key levels to watch for in the coming days.

Ethereum Descending Channel Pattern!

The Descending channel pattern offers high-quality key levels to watch for on the Ethereum timeframe. If the Ethereum Altcoin continues trading within this channel, we can expect to see the price find support and resistance within this channel as it continues pushing down.

However, a descending channel also indicates a price retracement from the main trend, with the main trend on this occasion being the bullish move to the upside!

If this proves to be true, there is a very high probability that we might see a price reversal in the Ethereum 4-hour price chart soon! This reversal will lead to a price breakout from the descending channel and surge higher.

Final Verdict!

The Ethereum sell-off has been slow, and very choppy, showing signs that the ETH bears might be weak and unable to hold the Altcoin lower for long!

The key pattern we are watching to indicate the end of this sell-off is the descending channel pattern on the 4-hour timeframe. We want to see the Altcoin price break through this pattern and begin heading higher in the coming days.

Ethereum Sell-Off Might Not Last Long! Watch This Key Pattern
Ethereum Sell-Off Might Not Last Long! Watch This Key Pattern on the 4-hour timeframe

Claim up to $30,030 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 25% 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 $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: